New York City Requires Employers to Offer Pretax Transit Benefits

Effective Jan. 1, 2016, employers with at least 20 full-time employees in New York City must provide employees with a pretax qualified transportation benefit program, under a bill (Intro 295-A) signed Oct. 20 by Mayor Bill de Blasio (D). Employees are to be able to direct pretax wages towards certain types of tax-qualified transportation. Penalties for failure to comply with the law are to not be imposed until July 1, 2016. Employers are to have 90 days to address violations before employer penalties are imposed.

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