3 easy steps to find out how much you could save on your MetroCard with the new Commuter Benefits Law:
- Calculate your monthly transit spending (e.g. a monthly MetroCard costs $116.50 a month)
- Find your estimated tax bracket on the chart below
- Use the calculator above to estimate how much you can save with Pre-Tax Transit Benefits!
Spread the word: Share your annual savings on your MetroCard with pre-tax transit benefits! @RidersNY #MyTransitBenefit
These tax brackets are estimates for a sample NYC resident, but in reality each person’s rate will be unique based on personal circumstances and filing status.
Learn more about pre-tax transit benefits and the Commuter Benefit law at the Department of Consumer Affairs’ website.
The Commuter Benefits Savings Calculator is to be used for illustrative purposes only, and is not intended to provide tax, financial, or legal advice. All amounts displayed reflect potential savings based upon the user’s selections. Actual results will vary. Please consult your tax professional for actual individualized savings amounts.
The Employee Monthly Transit Expense includes all eligible modes of transit under New York City’s Commuter Benefits Law.
The Employee Total Tax Rate assumes personal combined federal and state income tax.
The Employer Monthly and Yearly Savings amounts illustrate the potential amount saved per employee who participates in a commuter benefits program. It does not include the cost of any administrative fees that a third-party provider may impose. Using pre-tax income to pay for commuting will reduce monthly expenses for most employees. However, for some lower-income employees, including many part-time and seasonal workers, the pre-tax benefit could reduce their overall benefit or refund under the Earned Income Tax Credit (EITC).