2011 Federal Standard Mileage Rate
The 2011 federal standard business rate for mileage reimbursement will be 51¢ per mile. Employers are not required to reimburse mileage at the federal rate. If your library does not use the federal rate, make sure that the rate is reviewed annually to provide fair reimbursement. Any mileage reimbursed at a higher rate would require the employer to show the difference above 51¢ per mile as income on the individual’s 2011 W-2.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile.… Read More