The University of Missouri follows the State of Missouri’s practice of reimbursement for business transportation expenses at a mileage rate that is three cents less than the IRS standard mileage rate. The IRS rate is based on an annual study of the fixed and variable costs of operating an automobile. The IRS announced on December 6, 2013, that the standard mileage rates for business miles driven will be 56 cents per mile and for moving expenses will be 23.5 cents per mile effective January 1, 2014, a decrease of one-half cent for both rates from the rates in effect during 2013.
Therefore, effective January 1, 2014, the University’s mileage reimbursement rate for business miles driven in 2014 will be 53 cents per mile. In addition, the University will reimburse moving expenses at 20.5 cents per mile.