Texas Mileage Rate 2024. In addition, on december 14, 2023, the irs published the standard mileage rates for 2024 as follows: The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024.

This means that for every mile your employees drive, you reimburse them $0.67. The new rates for travel occurring on or after jan.