The Maryland Commuter Tax Credit has been expanded! Starting July 1, 2022, the Tax Credit will apply to:
transit, vanpool, employer-provided Guaranteed Ride Home, Parking Cash-Out
AND (added July 1, 2022)
bicycling (and bikeshare/scootershare), walking, telework, carpooling, and first/last mile multimodal options.
Businesses including 501c3 and 501c4 organizations who provide their employees with commuter subsidies may be eligible to claim the tax credit of 50% of the cost, up to $100 per employee per month - that's $1,200 per employee each year, just for making their commutes more affordable!
Regular IRS pre-tax/subsidy limits for commuter benefits also still apply - employers can allow employees to receive up to $280 per month in pre-tax deductions, subsidy, or combination, towards their transit, vanpool, or commuter-related parking costs.
Contact the RideSmart team to build your commuter benefits program and take advantage of these great savings!
Guaranteed Ride Home now offers you up to SIX free rides home from work per year for emergency situations. Take the "what-if" out of your commuting decisions and sign up for this free program today at www.commuterconnections.org.