What was the federal mileage rate for 2016?
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What was the federal mileage rate for 2016?
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| Period | Rates in cents per mile | |
|---|---|---|
| Business | Charity | |
| 2017 | 53.5 | 14 |
| 2016 | 54 | 14 |
| 2015 | 57.5 | 14 |
What is the POV mileage rate?
$1.26. If use of privately owned automobile is authorized or if no Government-furnished automobile is available. January 1, 2021. $0.56. If Government-furnished automobile is available.
What is the government reimbursement rate for mileage?
56 cents per mile
For 2021, standard mileage rates for the use of cars, vans, pickups or panel trucks will be: 56 cents per mile driven for business use, down from 57.5 cents in 2020.
How is mileage reimbursement calculated?
Using a mileage rate The standard mileage rate is 56 cents per mile. To find your reimbursement, you multiply the number of miles by the rate: [miles] * [rate], or 175 miles * $0.56 = $98. B: You drive the company’s vehicle for business, and you pay the costs of operating it (gas, oil, maintenance, etc.).
What are the mileage rates for 2020?
Beginning January 1, 2020, the standard mileage rates for the use of a car (van, pickup or panel truck) will be: 57.5 cents per mile for business miles driven, down from 58 cents in 2019. 17 cents per mile driven for medical or moving purposes, down from 20 cents in 2019.
What percentage of mileage reimbursement is for gas?
57.5 cents per mile for business miles (58 cents in 2019) 17 cents per mile driven for medical or moving purposes (20 cents in 2019)
When do I get my POV mileage reimbursement?
Privately Owned Vehicle (POV) Mileage Reimbursement Rates. GSA has adjusted all POV mileage reimbursement rates effective January 1, 2021. Modes of Transportation. Effective/Applicability Date. Rate per mile. Airplane*. January 1, 2021. $1.26.
How much does it cost to reimburse a privately owned car?
Privately Owned Vehicle (POV) Mileage Reimbursement Rates Modes of Transportation Rate per mile Airplane* $1.26 If use of privately owned automobile is $0.56 If Government-furnished automobile is av $0.16 Motorcycle $0.54
When does GSA change the rate for POV miles?
GSA has adjusted all POV mileage reimbursement rates effective January 1, 2021. * Airplane nautical miles (NMs) should be converted into statute miles (SMs) or regular miles when submitting a voucher using the formula (1 NM equals 1.15077945 SMs).