Establishes a qualified transportation fringe benefits program; allows for an itemized deduction for the full amount of expenses for any qualified transportation benefit provided to an employee of the taxpayer.
Establishes a qualified transportation fringe benefits program; allows for an itemized deduction for the full amount of expenses for any qualified transportation benefit provided to an employee of the taxpayer.
Establishes the commuter transportation benefit chapter. Employers with five hundred (500) or more employees would be required to establish a pre-tax commuter transportation fringe benefit program.
Establishes the commuter transportation benefit chapter. Employers with five hundred (500) or more employees would be required to establish a pre-tax commuter transportation fringe benefit program.
Supporting Transit Commutes Act This bill provides employers a tax deduction for certain transportation fringe benefits given to employees.Under the bill, employers may deduct costs for providing employees transportation in a commuter highway vehicle (e.g., van pool) between the employee’s home and place of work or a transit pass. The amount of the deduction cannot exceed the aggregate exclusion amount for such fringe benefits ($325 per month per employee in 2025 and adjusted annually). Further, under the bill, the deduction cannot exceed 50% of such amount for transportation fringe benefits provided under a salary reduction agreement.
Authorizes the election of qualified transportation fringe benefits; authorizes any employer to offer employees the opportunity to use pre-tax earnings for the purchase of qualified transportation fringe benefits.
Authorizes the election of qualified transportation fringe benefits; authorizes any employer to offer employees the opportunity to use pre-tax earnings for the purchase of qualified transportation fringe benefits.
Authorizes the election of qualified transportation fringe benefits; authorizes any employer to offer employees the opportunity to use pre-tax earnings for the purchase of qualified transportation fringe benefits.
Authorizes the election of qualified transportation fringe benefits; authorizes any employer to offer employees the opportunity to use pre-tax earnings for the purchase of qualified transportation fringe benefits.