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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132 (a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income ...
The state Senate has passed legislation to derail the payroll tax put in place last year to rescue the Metropolitan Transportation Authority from a big budget deficit.
CONNECTICUT — Employees in Connecticut will see a new payroll deduction in the new year. Beginning Jan. 1, employees will have some money deducted from their paychecks to fund Connecticut’s ...
On February 1, 2023, as part of her Executive Budget proposal to the New York State Legislature, Governor Kathy Hochul proposed raising the MTA payroll tax, a move projected to increase revenue by $800 million, and also giving the MTA some of the money from casinos expected at present to be licensed soon for business in Manhattan.
This tax, known popularly as the "mobility tax", or the "MTA tax", is intended to provide funds for the Metropolitan Transportation Authority, which transports many of the region's commuters. Philadelphia has a 3.924% wage tax on residents and a 3.495% tax on non-residents for wages earned in the city as of August 2013.
Some might see a bigger 2024 tax refund after inflation adjustmentsaol.com- Taxes 2023: Here are the biggest tax changes this yearaol.com
- State-mandated IRAs: How they encourage employers to start 401(k) plansaol.com
Your employer also withholds Social Security and Medicare taxes, known as FICA payroll taxes. Generally, 6.2% of your income is taken out for Social Security taxes and 1.45% is taken out for ...