Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2012

Governor's Budget Recommendation FY 2012

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1.030 -Parking, T-Pass and Vanpool Fringe Benefits


Item DescriptionFY2010 FY2011 FY2012
1.030 Parking, T-Pass and Vanpool Fringe Benefits
A federal and Massachusetts exclusion is allowed for employer-provided parking, transit passes and vanpool benefits (i.e. "qualified transportation benefits"), subject to monthly maximums. As a result of the Code Update, for tax years starting on or after January 1, 2005, Massachusetts adopts the federal exclusion without any differences in exclusion amounts or allowed benefits. Although the American Recovery and Reinvestment Act of 2009 temporarily increased this amount at the federal level, Massachusetts does not conform, and allows only a maximum exclusion of $120 per month (see Appendix A).

Origin:  IRC sec. 132(f)
Estimate:  $39.5
34.6 38.2 39.5

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
U.S.C United States Code
M.G.L. Massachusetts General Laws
Rev. Rul.; C.B. Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES All estimates are in $ millions.


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