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1.030 -Parking, T-Pass and Vanpool Fringe Benefits
| Item | Description | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|---|---|---|---|---|---|
| 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. Massachusetts adopts the federal exclusion as it appeared in the Code on January 1, 2005. Although the Tax Relief Act of 2010 temporarily increased this amount at the federal level, Massachusetts did not conform. For 2015, the federal amounts reverted to their 2005 calculation method, and as a result the state and federal exclusions are the same for tax year 2015: $250 per month for qualified parking, and $130 per month for combined commuter highway vehicle transportation and transit passes. For further discussion, see TIR 14-15. Origin: IRC S. 132(f) Estimate: $37.3 |
33 | 36.5 | 36.3 | 36.4 | 37.3 |
Key:
| ORIGIN | |
| IRC | Federal 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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