For 2017, Massachusetts has issued a Technical Information Release regarding the personal income tax exclusion amounts for employer-provided parking, transit pass, and commuter highway vehicle benefits allowed to employees. The Massachusetts monthly exclusion amounts for taxable years beginning in 2017 are: $255 for employer-provided parking $135 for combined transit pass and commuter highway vehicle transportation […]Continue Reading →
Posts Tagged 'parking benefits'
As part of the federal budget bill that was signed into law on December 18th, 2015, the maximum monthly tax exclusion for employer-provided mass transit benefits was increased. As a result, the limit for transit benefits is now equal to the limit for employer-provided qualified parking benefits. The increase applies retroactively to months after 2014. […]Continue Reading →