UNM parking patrons may see a small increase in their next paycheck if they currently have a parking deduction. On Dec. 20, 2019, the Taxpayer Certainty and Disaster Tax Relief Act of 2019 was signed into law. One provision of this Act was the repeal of the “nonprofit parking tax” enacted in 2017.
This change means that the University is no longer subject to tax liabilities on parking benefits provided to employees.
Consequently, all employee payroll parking deductions will be withheld on a pre-tax basis effective with the first paycheck received after Feb. 1, 2020. This could result in a small increase to your net pay.
Employees are encouraged to refer to the “Benefits, Deductions, and Taxes” section of their pay stub for details of their withholdings. The pay stub is accessible from MyUNM by selecting the appropriate “Faculty or Staff” tab, then selecting the “Employee Dashboard” link on the “My Pay” tile.
If you have any questions, contact the Payroll Office at 505-277-2353.
** Please note that the Payroll office cannot give tax advice to employees, but may be able to address general questions regarding your payroll taxes.