South Dakota Business Law: What are the standard mileage rates for 2016?

The Internal Revenue Service recently issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 54 cents per mile for business miles driven, down from 57.5 cents for 2015
  • 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015
  • 14 cents per mile driven in service of charitable organizations

 

About Swier Law Firm's Business & Corporate Practice Group

Swier Law Firm's Business & Corporate Practice Group handles the following types of cases:

  • Cyber Law and Cyber Security
  • Limited Liability Companies (LLCs)
  • General Partnerships and Limited Liability Partnerships
  • Joint Ventures and Strategic Alliances
  • C Corporations and S Corporations
  • Trademarks and Copyrights
  • Real Estate
  • Wind Energy Transactions
  • Corporate Governance
  • Corporate Dissolution
  • Conducting Internal Investigations for Boards, Board Committees and General Counsel
  • Preparing, Revising and Updating Governance and Compliance Materials, including Bylaws,
    Committee Charters, and Compliance Policies.

To learn more about business and corporate legal issues in South Dakota, contact Swier Law Firm.