La. Admin. Code tit. 4 § V-4117

Current through Register Vol. 50, No. 8, August 20, 2024

Section V-4117 - Parking-Taxable Benefits

A. The Energy Policy Act of 1992 amended the Internal Revenue Code provisions on taxing employer provided transportation benefits. Under these provisions, employer provided parking in a public parking facility valued up to $175 per month may be excluded from taxable income. Any amounts of $175 or higher must be considered taxable fringes and are to be included in taxable income, unless the employee pays amounts in excess of the $175 per month.

B. The value of the parking cost is to be based on the cost an employee would incur in an arm's-length transaction to obtain parking at the same site. If this cost cannot be determined, value should be based on the cost incurred in an arm's-length transaction to obtain other space in the same lot or a comparable lot in the same general area.

La. Admin. Code tit. 4, § V-4117

Promulgated by Office of the Governor, Division of Administration, LR 20:376 (April 1994), amended LR 25:1407 (August 1999).

AUTHORITY NOTE: Promulgated in accordance with R.S. 39:78 and Executive Order Number 85-52.