2024 Mileage Rate Increase Nj

2024 Mileage Rate Increase Nj. 1, 2024, these are the standard mileage rates for the use of a car (also vans, pickups or panel trucks). 67 cents per mile, up 1.5 cents from 65.5 cents in 2023.

Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. Under current law, the state’s mileage reimbursement rate is $0.18 cents per mile, adjusted biannually to reflect changes in gasoline prices.