Parking Cash-Out is a program in which the employer offers employees the option to accept taxable cash income instead of a free or subsidized parking space at work. This gives the employee the choice to keep the parking space at work, use the money to pay for transit or vanpool fares, or save the money by carpooling, bicycling, or walking to work. (Note: The employer can provide a tax-free transit or vanpool benefit as part of a Parking Cash-Out program.) By equalizing the incentives, some employees who currently drive alone may think twice about it and choose another option.
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