Mileage Rate 2024 Kentucky. Your average tax rate is 10.94% and your. According to the irs, the mileage rate is set yearly “based on an annual study of the fixed and variable costs of operating an automobile.” here are the mileage rates for the year 2024:
For example, if you drove 1,000 business miles and the rate is x cents per mile, your deduction would be 1,000 miles x x cents. The commonwealth of kentucky finance and administration cabinet provides new rates on january 1, april 1, july 1, and october 1.
When Traveling For The State You Are Expected To Use The Most Economical Transportation Available And Follow The Most Direct And Usual Traveled Routes.
67 cents per mile driven for business use, up 1.5 cents from 2023.
Click On Any County For A Detailed Breakdown Of The Per Diem Rates Applicable In That Area, And A Table Of Per Diem Rates By Month For The Entire Year Of 2024.
The internal revenue service (irs) has issued the 2024 optional standard mileage rates effective jan.
Mileage Rate 2024 Kentucky Images References :
Effective July 1, 2022 = 62.5 Cents Per Mile Per Diem Average Maximum Daily Rate.
Dec 21, 2023 | tax news.
The Commonwealth Of Kentucky Finance And Administration Cabinet Provides New Rates On January 1, April 1, July 1, And October 1.
Multiply the total eligible miles for each category (business, medical, moving, charity) by the corresponding irs mileage rate for 2024.