Premiums/Rates
Pre-Tax Parking Deduction Plan
Internal Revenue Service (IRS) Code Section 132(f) limits the amount of qualified parking
that may be excluded from an employee's taxable income to $220.00 (effective January 1, 2008) per month for a pre-tax
parking deduction. This limit may be adjusted annually to reflect cost of living
increases. Currently, any amount of parking deduction in excess of $220.00 will be paid with after-tax
dollars.
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