Increased Standard Mileage Rates Apply for Wisconsin

​ As a result of the recent increases in the price of fuel, the Internal Revenue Service has increased the optional standard mileage rate to 58.5¢ per mile for business purposes and 27¢ per mile for medical and moving expense purposes. The mileage rate that applies to the deduction for charitable contributions is fixed under § 170(i) of the Internal Revenue Code at 14¢ per mile. The increased rates, which are effective from July 1, 2008 through December 31, 2008, also apply for Wisconsin.

June 25, 2008