New York City has passed an ordinance requiring that companies with 20 or more full-time employees who work in the City offer a pretax transit benefit program to their NYC employees by January 1, 2016. The ordinance covers all five boroughs.
The transit benefit program encompasses all public transit including bus, train, subway, ferry service, and van pooling. Businesses that are not yet compliant will be able to save on payroll taxes by offering these commuter benefits.
Questions? Contact your Berdon advisor or Marc Ausfresser, J.D., LL.M. at 212.331.7639 | firstname.lastname@example.org