There are many tax benefits available when you help your employees to use commute alternatives. Georgia employers have saved millions in taxes. Taking advantage of these benefits is easy, and programs can be set up at any time.
The Commuter Choice tax benefits program, based on Section 132(f) of the federal tax code, allows employers to offer employees a variety of financial incentives for using alternative commute modes. Section 132(f) covers transit, vanpool and bicycle benefits as well as qualified parking.
The State of Georgia is the first state in the nation offering a telework tax credit. Businesses that start or expand telework programs can receive the Georgia Telework Tax Credit (Code 48-7-29.11) in 2011.
Employers can receive an annual $25 tax credit for each employee that utilizes a federal qualified transportation fringe benefit. Employees must use the commute alternative at least 10 times per month to qualify. This tax credit, provided by Code 48-7-29.3, is open to employers that pay State of Georgia corporate income tax and provide transit pass subsidies or vanpool subsidies for employees. For more information, contact your Employer Program Manager.