If a business owns or leases a parking facility where employees park, then an employer may use any reasonable method to determine the cost of providing parking in that facility to the employees. (Photo: Shutterstock)
Employers who provide parking to employees, take note: the expense has gone up and, for tax-exempt employers, may now result in additional tax liability.
As previously noted, the Tax Cuts and Jobs Act brought surprising change in this area. For for-profit employers, the cost of providing parking to employees is no longer permitted as a deduction. For tax-exempt employers, the cost of providing parking to employees is now included in Unrelated Business Taxable Income (UBTI) calculations.
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