There is now permanent parity between transit pass benefits and parking benefits under Code section 132.
Beginning in 2016, the monthly maximum tax exclusion for both transit and parking benefits will be $255, subject to an annual inflation adjustment. This parity was signed into law through the Consolidated Appropriations Act passed by Congress and signed by the President on December 18, 2015.
The $130 exclusion for commuter highway vehicles and transit passes is increased to $255 for 2016, and retroactively increased to $250 for 2015.
