Exempts certain non-profit entities from offering pre-tax transportation fringe benefits to employees.

New Jersey S3846 amends existing law to exempt certain non-profit entities from the requirement that employers offer employees pre-tax transportation fringe benefits. Specifically, it excludes entities that are tax-exempt under section 501(c)(3) of the Internal Revenue Code from this requirement. This change aims to alleviate the tax burden on these non-profits, which previously had to pay federal corporate tax on contributions to the pre-tax transportation fringe benefit. The bill takes effect immediately upon enactment.

Exempts certain non-profit entities from offering pre-tax transportation fringe benefits to employees.

New Jersey S3846 amends existing law to exempt certain non-profit entities from the requirement that employers offer employees pre-tax transportation fringe benefits. Specifically, it excludes entities that are tax-exempt under section 501(c)(3) of the Internal Revenue Code from this requirement. This change aims to alleviate the tax burden on these non-profits, which previously had to pay federal corporate tax on contributions to the pre-tax transportation fringe benefit. The bill takes effect immediately upon enactment.