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2013 Mileage Rate

published: January 02, 2013

AMERICAN ACCOUNTS PAYABLE ASSOCIATION
Compliance Update

Business Standard Mileage Rate Increases to 56.5¢ in 2013

The IRS has announced that the business standard mileage rate for transportation expenses paid or incurred beginning January 1, 2013, will be 56.5 cents per mile, up one penny from the rate in effect during 2012 [Notice 2012-72, released 11-21-12; www.irs.gov/pub/irs-drop/n-12-72.pdf].

The mileage rate may be used to compute the amount to reimburse employees who are using their own cars for business purposes. It may also be used by employers that elect to use the “cents-per-mile” valuation method for purposes of determining the amount that needs to be imputed to an employee’s income for personal use of certain company-owned or leased nonluxury vehicles (see The Payroll Source®, p. 3-22).

In addition, the 2013 standard rate for miles driven for medical or moving purposes will increase to 24 cents per mile, up from the 23 cents-per-mile rate in effect during 2012.

Finally, the standard mileage rate for operating a passenger car for charitable purposes, which is set by law, will stay at 14 cents per mile in 2013.