Employee Parking Deductions
Dear Colleagues,
On December 22, 2017 the Tax Cuts and Jobs Act (TCJA) with several provisions impacting qualified transportation fringe benefits was signed into law. One provision eliminated employers’ ability to offer parking deductions on a pre-tax basis as doing so subjected employers to taxation on the value of the benefit provided. Consequently, in order to provide cost efficiencies to our employees who purchase parking permits, all employee parking deductions will be withheld on a post-tax basis effective with the first pay received after July 1, 2018.
If you have any questions about this message, please contact 91̽»¨ Human Resources at 740.593.1636 or Parking Services at 740.593.1917.
Sincerely,
Colleen Bendl
Chief Human Resources Officer
Shawna Bolin
Associate Vice President, University Planning, Real Estate, & Transportation and Parking Services