Apr 28, 2022 by Julie Dietz
Effective July 7, 2022, the Maryland Commuter Tax Credit will extend eligibility benefits to certain employer-funded programs for carpools, walking and biking gear, teleworking and multimodal commuting.
Commuter Choice Maryland will reimburse companies 50% of costs (up to $100 per employee) when they offer employees qualified commuting benefits programs (Guaranteed Ride Home, Vanpool, Transit, and Cash in Lieu of Parking). The credit may be taken against corporate income tax, personal income tax, state and local taxes withheld (for tax exempt organizations) or insurance premiums tax. Any unused credit may not be carried over to any other taxable year.
Silverlode will provide more information as the state finalizes program details.