The value of certain transportation fringe benefits provided by an employer to an employee may be excluded from employee wages.
2014 Treatment:
For federal purposes, the amount that may be excluded from employee wages for 2014 is limited as follows:
- $250 per month for qualified parking
- $250 per month for commuter highway vehicle transportation and transit passes
- $20 per qualified bicycle commuting month
For Wisconsin purposes, the amount that may be excluded from employee wages for 2014 is limited as follows:
- $250 per month for qualified parking
- $130 per month for commuter highway vehicle transportation and transit passes
- $20 per qualified bicycle commuting month
2015 Treatment:
As of January 1, 2015, Wisconsin will follow the federal amounts published in
2015 Federal Publication 15-B,
Employer's Tax Guide to Fringe Benefits. These amounts are:
- $250 per month for qualified parking
- $130 per month for commuter highway vehicle transportation and transit passes
- $20 per qualified bicycle commuting month
Form W-2 Reporting:
To report the difference between the federal and Wisconsin treatment of commuter highway vehicle transportation and transit passes on the Form W-2, employers must either:
- Include the amount that is taxable for Wisconsin purposes, but not taxable for federal purposes, in Box 16 of the Form W-2, or
- Provide the employee with a supplemental "Wisconsin Only" Form W-2 with the taxable benefits in Box 16
January 12, 2015