New York A01486 authorizes employers to offer employees pre-tax earnings for qualified transportation fringe benefits.

New York A01486 amends the tax law to authorize the election of qualified transportation fringe benefits. Employers can offer employees the opportunity to use pre-tax earnings for these benefits, which include transportation network company prearranged trips, ridesharing, and membership in transportation network companies, ridesharing, or bikesharing programs. The act takes effect immediately and applies to taxable years beginning on and after January 1, 2026.

New York A01486 authorizes employers to offer employees pre-tax earnings for qualified transportation fringe benefits.

New York A01486 amends the tax law to authorize the election of qualified transportation fringe benefits. Employers can offer employees the opportunity to use pre-tax earnings for these benefits, which include transportation network company prearranged trips, ridesharing, and membership in transportation network companies, ridesharing, or bikesharing programs. The act takes effect immediately and applies to taxable years beginning on and after January 1, 2026.