Chancellor Kent Syverud | Syracuse University
Chancellor Kent Syverud | Syracuse University
The Internal Revenue Service (IRS) has revealed the standard mileage rate for 2025. This rate is applicable to Syracuse University employees who need to calculate deductible automobile operating costs for business activities.
Starting January 1, 2025, the standard mileage rate will be 70 cents per mile for business miles driven. This represents an increase of 3 cents from the previous year's rate of 67 cents per mile.
The updated rates are applicable to electric and hybrid-electric vehicles, as well as gasoline and diesel-powered vehicles.
For further inquiries, employees can contact the Comptroller’s Office at 314.443.3765.
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