New Jersey: Commuters, Rejoice – Certain Employers to Provide Transportation Tax Benefit
APPLIES TO All Employers with 20 or more NJ Employees |
EFFECTIVE Pending; See Below |
QUESTIONS? Contact HR On-Call |
Senate Bill 1567 was signed into law on March 1, 2019, and requires covered employers to provide pre-tax transportation fringe benefits to employees. With the new law, employees will be able to set aside and utilize a pre-tax portion of their wages for specified transportation services. This requirement goes into effect either March 1, 2020, or the effective date of rules and regulations adopted by the Commission of Labor and Workforce Development (CLWD), whichever is earlier.