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It collects revenue from passenger fees and from a Metropolitan Commuter Transportation Mobility Tax, a payroll tax levied on employers in the 12-county area served by the MTA.
Chief among them is raising the state’s payroll mobility tax from 0.34 percent to 0.5 percent, Hochul said. Doing so will yield $1 billion for the MTA, she said.
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.
The deal proposes to do this by raising the state's payroll mobility tax for New York City's largest businesses, Hochul said.
State Group Joins Rockland's Fight Against MTA Payroll Tax - New City, NY - Rockland wants tax scrapped, better service from MTA and $220M in damages.
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 ...