With Metro Perk employers can offer employees a pre-tax benefit for transit use. Employers using Metro Perk reduce payroll taxes. Employees reduce their taxable income, saving approximately 30%. It is easy to set up and even easier to use.
It’s that simple.
The savings add up
For employees – A $75 monthly pass as a real cost of $53 for people in a 15% tax bracket. People in a higher tax bracket could save even more. The full $75 is taken out of a paycheck, but before taxes. By avoiding tax on that money, most Metro riders will save about 30%.
For employers – Every $1,000 reduction in payroll saves $76 in FICA, annually. (Savings dependent on payroll tax rates and wage base.) Social Security and other savings may also apply.
For more information contact:
NFTA-Metro Cash Management Office
Attn: Metro Perk
181 Ellicott Street Buffalo, NY 14203
phone: 716.855.7202 | fax: 716.855.7311 | TTY/Relay 711 or 800.662.1220