Maryland employers, including 501 (c)(3) or (4) organizations, may claim a tax credit for 50% of the eligible costs of providing commuter benefits up to a maximum credit of $100.00 per participating employee per month. The tax credit can be taken against the State personal income tax, the corporate income tax, or the insurance premium tax.
The credit is applicable to the following expenses:
- Transit Benefits (such as company paid benefits through SmartBenefits)
- Company vanpool program
- Company Guaranteed Ride Home program
- Company Cash In Lieu of Parking program
For more information visit Maryland’s Official Site.
For a company presentation on Commuter Tax Credit, contact Traci McPhail at email@example.com.
Have questions? Please contact the Comptroller of Maryland Tax Payer Service Section at 410-260-7980.