BNSF News

2008 Standard Mileage Rate Increase Announced

2007-12-13

The Internal Revenue Service (IRS) has made an adjustment to the standard mileage rate. Effective Jan. 1, 2008, reimbursement for business miles driven will be 50.5 cents, up from 48.5 cents.

As information, the Personal Vehicle Use guideline from the BNSF Travel and Entertainment Expense Policy is provided below to help you prepare your expense report accurately.

5.4 Personal Vehicle Use

5.4.A. Employees may use their personal vehicle for business purposes when approved by their immediate supervisor. Reimbursement is at the IRS standard mileage rate, which covers insurance, gasoline and all other costs of operation. Therefore, the employee's personal insurance is primary and the employee is responsible for any deductible that may apply. The vice president and controller will issue updated mileage rates as changes to the IRS standard mileage rate occur.

5.4.B. Incremental mileage in excess of mileage between an employee’s residence and normal work location is reimbursable.

5.4.C. Mileage between an employee’s home and normal work location is not reimbursable.

5.4.D. Where a personal vehicle is elected in lieu of air travel, reimbursement is limited to the lesser of the lowest available airfare from the Company-sponsored travel agency or the relevant mileage reimbursement. Also refer to section 5.2.A.

If you have any questions regarding this change, please call the Travel Ex Hotline at (817) 593-7798, option 3, or e-mail travelex@bnsf.com.

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For more information on the company and its transportation solutions, visit the BNSF Web site at www.bnsf.com