Mileage Reimbursement 2024 Ohio. The irs sets an optional standard mileage rate annually based on a number of factors, such as gas prices, insurance rates, and new car costs. You can calculate mileage reimbursement in three simple steps:
The state of ohio only reimburses its employees at 40 cents per mile when the current federal rate is 44.5 cents per mile. The business mileage reimbursement rate increases to 67¢ in 2024, up from 65.5¢.
The Standard Reimbursement Rate For 2024 Is Currently Set To 67 Cents Per Mile, Which Is 1.5 Cents.
What is the 2024 federal mileage reimbursement rate?
The State Of Ohio Only Reimburses Its Employees At 40 Cents Per Mile When The Current Federal Rate Is 44.5 Cents Per Mile.
Beginning on july 1, 2023, the standard mileage rates for the use of a personal vehicle is 65.5 cents per mile driven for business use.
Effective January 1, 2024, The Mileage Reimbursement Rate Will Increase From 65.5 Cents Per Mile To 67 Cents Per Mile For All Business Miles Driven From January.
The irs mileage rate in 2024 is 67 cents per mile for business use.
Input The Number Of Miles Driven For Business, Charitable, Medical, And/Or Moving Purposes.
Ohio mileage reimbursement rate ohio’s mileage reimbursement laws are like new york’s in that there is no specific rate that businesses are required to reimburse employees, but it is widely accepted that the irs standard rate is the proper rate to use.