On June 23, 2008 the IRS announced a new mileage reimbursement rate for miles driven between July 1, 2008 and December 31, 2008. The new rate is 58.5 cents per business mile.
NEKLS libraries need to note several things about the new rate:
1) Your library is not required to adopt this rate, it just cannot pay over this rate as reimbursement. The library board can set any mileage reimbursement rate is chooses and many do not pay the federal rate. However, if your library picks a reimbursement rate above the federal rate, the amount above the federal rate is taxable.
2) Note that the time frame refers to the date the miles are driven – not the date the reimbursement is paid. Individuals who drove miles in June 2008, and will be paid in July 2008, will only receive 50.5 cents per mile. The same is true for miles driven in December 2008 and paid in January 2009. Then the rate will be 58.5 cents per mile.
Please feel free to call the NEKLS office if you have any questions.
Laura DeBaun is the Library Services Consultant and
Business Manager at NEKLS. You can reach her by email (ldebaun (at) nekls.org), phone, or on several instant messaging platforms (look Laura up by her email address). Visit the 
