2024 Mileage Rate For Taxes In Nj. The irs bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023. This document includes the optional 2024 standard mileage rates and details the maximum automobile cost for calculating the allowance under a fixed and variable rate (favr).

1, 2024, these are the standard mileage rates for the use of a car (also vans, pickups or panel trucks). The new rate kicks in beginning jan.