Parking Employee Contribution
Parking REG6% Employee Before Tax contribution.
The State of Kansas Parking Compensation Reduction Program established pursuant to Section 132 of the Internal Revenue Code and K.S.A. 75-5535 was approved by the Secretary of Administration on July 28, 2000. The purpose of the Program is to provide a parking compensation reduction program that results in payment of parking fees by state employees for state owned or leased parking facilities on a pre-tax basis. The Program authorizes employees to participate in a pre-tax parking payroll deduction where the amount of the parking deduction is not included in gross income. As a result, the employee does not pay employment taxes for federal withholding, state withholding, OASDI, and Medicare on the compensation reduction amount or parking fee and the unemployment compensation insurance (UCI) gross will be reduced by the compensation reduction amount or parking fee. The program requires payroll deductions. Employer contribution is based on the reduction in employer paid FICA contributions. This equals 7.65% of the employee contribution.
Parking REG4% Employee After Tax contribution
The After tax deduction code for parking deduction is still available The deductions will be taken each bi-weekly payroll period based on a schedule set up by the Parking Department. Contact Parking at 864-PARK for more information.