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.
Same As
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.
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.
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.