Pre-Tax Transportation Fringe Benefits
What happened?
New Jersey passed a law which requires employers to offer pre-tax commuter benefits to employee’s effective March 1, 2020.
What are the details?
Employees can use pre-tax benefits to pay for “alternate means of commuting” which would include public transportation, carpools, telecommuting, bicycles, and walking. Individuals who are not in collective bargaining agreement beginning March 1, 2020.
What do employers need to do?
Ensure transit is being offered pre-tax to your staff.
Resources
https://www.njtransit.com/var/var_servlet.srv?hdnPageAction=CommuterTaxTo
