Maryland Commuter Tax Credit

Make Strides with Maryland's Commuter Tax Credit!

Maryland-based businesses can receive a tax credit of 50% of a $100 benefit for providing eligible commuter expenses for their employees. The maximum value of the tax credit is $50.00 per month, per employee. Any combination of benefits can be used, and employers can take this credit against the State Income Tax, the Financial Institution Tax, or the Insurance Premium Tax. These employer-provided commuting expenses qualify for the tax credit:

• SmartBenefits/transit benefits for use on Metrorail, Metrobus, MTA commuter bus, MARC train, and Ride On bus provided to employees at free or at a reduced cost.
• Vanpools, seating eight or more adults and provided by a qualified vanpool company. Van purchase and leases, fuel, insurance, safety, and equal-access upgrades can qualify for the tax credit if paid directly by the employer.

For more information, contact Mirza Donegan at mdonegan@nbtmd.org or 301-770-8108. Have your company schedule a meeting with Mirza by August 27, 2010 and get a discount registration rate for your team!

Visit Maryland Commuter Tax Credit for more information.