2024 Mileage Reimbursement Rate Illinois State. The internal revenue service (irs) has released the optional standard mileage rate for 2024. Effective january 1, 2024, the mileage reimbursement rate for employees using private passenger vehicles for university business will increase from 65.5 cents.

As of 2024, the irs rate is 67 cents per mile for business travel. The rate is updated regularly to reflect.