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Pre-Tax Parking
Summary:
Currently, all parking deductions are taken out of "after-tax" dollars. Beginning January 1, 2003, all employees will be eligible to pay for parking on a pre-tax basis. The pre-tax deductions for parking will be withheld from your pay, just like any insurance or tax deductions that are already being withheld.
If you elect to pay your parking fees directly (no payroll deduction) there will be no deductions withheld from your paycheck, and therefore no tax savings.
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Who is eligible?
All employees who are eligible to purchase on-campus parking permits are eligible for this program. |
