Common use of Tax Sheltered Parking Clause in Contracts

Tax Sheltered Parking. The Employer will provide an opportunity to employees to voluntarily participate in a tax sheltered parking program, subject to Internal Revenue Service Code Section 132. The plan will apply to employees paying for parking at a state facility through payroll deduction, and will apply to employees paying for parking at a private facility through payroll deduction. The effect of this plan will be to reduce the amount of taxable income to employees meeting this criteria, as pre-tax dollars will be used to pay for employee parking payments.