What is the maximum amount excluded from income by law in 2018 for transit passes?

In 2018, the maximum amount that could be excluded from income for transit passes was set at $260 per month. This figure corresponds to the monthly limit established under the Internal Revenue Code for qualified transportation fringe benefits. The amount is a combination of the limits for transit passes and commuter highways, allowing employers to provide their employees with transit benefits that reduce tax liability.

This exclusion is part of an effort to encourage the use of public transportation and support environmentally friendly commuting options. By allowing a higher limit in 2018 compared to previous years, legislation aimed to make transit benefits more attractive to both employers and employees, fostering greater participation in public transportation programs.

This maximum was periodically adjusted to account for inflation and to reflect changes in commuting patterns. Thus, the figure of $260 is in line with what was legislated for that year.