Commuter Tax Benefit for Employers
Increase your employees' take-home pay without increasing your payroll.
As of March 2009, federal tax law allows your employees to use up to $230 per month ($2760 per year) of their pre-tax income to pay for commuting on public mass transit and in Easy Street vanpools plus up to $230 per month ($2760 per year) for qualified parking for a combined total of $460 per month.
The benefits of the Commuter Tax Benefit in your workplace are tremendous. Not only will you lower your employees' taxable income and save on payroll taxes, you also will:
• Improve employee productivity and morale by reducing the stress of driving.
• Reduce employee tardiness.
• Improve your ability to recruit and retain quality employees.
• Provide a high-value/low-cost, competitive employee benefit already in place at scores of companies.
Commuter tax incentive programs are making a difference to thousand of employees throughout the state. In addition to monetary rewards, participants enjoy a less stressful commute and take satisfaction in knowing they are helping relieve congestion and reduce the environmental impact of driving alone to work.
The Commuter Tax Benefit program is supported as a commuter service of the Connecticut Department of Transportation. For more information on how to set up the Commuter Tax Benefit at your organization please contact us.