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Increase to Mileage Reimbursement Rates for 2024
January 3, 2024 by Staff
The IRS has released the standard mileage rate for business travel in 2024. The State of Colorado allows mileage reimbursement at 90% of the prevailing IRS rate for actual necessary travel while on official business. The increased reimbursement rates are detailed below.
Concur has been updated to reflect these increased rates on mileage incurred on or after January 1, 2024.
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MILEAGE REIMBURSEMENT RATES IN CENTS PER MILE |
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Effective 1/1/2024 |
Effective 1/1/2023 |
Effective 7/1/2022 |
Effective 1/1/2022 |
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IRS Rate |
67.0 |
65.5 |
62.5 |
58.5 |
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State of Colorado |
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2WD |
60.0 |
59.0 |
56.0 |
53.0 |
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4WD* |
64.0 |
62.0 |
59.0 |
56.0 |
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*terrain must dictate necessity |
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