Increase to Mileage Reimbursement
Earlier this month, the IRS announced an increase in the standard mileage rate for business travel due to increasing gas prices. 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. These changes will go into effect for mileage incurred on or after July 1, 2022.
Concur will reflect these increased rates on mileage incurred on or after July 1, 2022.
|Mileage Reimbursement Rates in Cents per Mile|
|Effective 7/1/2022||Effective 1/1/2022|
|State of Colorado|
|*terrain must dictate necessity|