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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
The New Mexico Department of Transportation (NMDOT; Spanish: Departamento de Transporte de Nuevo México) is a state government organization which oversees transportation in State of New Mexico in the southwestern United States. The agency has four main focuses—transit, rail, aviation and highways. [1]
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private sector.
A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
Jun. 11—The start of July will mean a few less duties for the New Mexico Public Regulation Commission. Beginning July 1, per state law, most of the transportation division at the PRC moved over ...
The division will have 23 employees in all, Ortiz said. Johnny Johnson, executive director of the New Mexico Trucking Association, said he expects the change to be seamless.
These services and others — including buying and governing health insurance plans for up to 180,000 state and local employees — will fall under the direction of the single Health Care Authority.
Benefits – Employee benefits refer to the non-wage advantages offered by employers alongside standard salaries or wages. The benefits included in this total compensation package are designed to attract, retain, and motivate employees, while also improving their well-being and job satisfaction.