SALT Alert - NYC to Require Employers to Offer Pre-tax Transit BenefitsBy Steven P. Bryde | November 19, 2015 | Download PDF
The Affordable Transit Act (Intro 295-A) requires New York City employers to offer pre-tax transit benefits in 2016. Employers that do not already offer these benefits will need to have a qualified transportation benefit program in place when the new law takes effect on January 1, 2016. This alert describes who is covered and exempt under the law and provides information about the penalties for non-compliance.
About Steven P. Bryde
Steven P. Bryde, JD, is a Senior Consultant in the Tax Practice at Marks Paneth LLP. He specializes in state and local taxation for corporations and flow-thru entities in a cross section of industries as well as for individuals. With more than 30 years of tax experience, Mr. Bryde has spent nearly his entire career in public accounting. Over the years, he has held positions at both global and regional accounting firms. Among his accomplishments... READ MORE +