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Standard Mileage Rate Information: The Standard Mileage Rate is set by the
Tax Code and is raised from time to time. The rate is set at so many cents per
mile driven in pursuit of a business that the taxpayer owns or for certain other
allowable mileage deductions. In some situations, the business owning taxpayer
may be able to deduct, in lieu of a mileage deduction, a portion or all of a
vehicle purchase for use in the business.
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