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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 qualified transportation benefits are transit passes, vanpooling, bicycling, and parking ...
Proof-of-payment (POP) or proof-of-fare (POF) is an honor -based fare collection system used on many public transportation systems. Instead of checking each passenger as they enter a fare control zone, passengers are required to carry a paper ticket, transit pass, transit smartcard - or open payment methods such as contactless credit or debit ...
The Transit Access Pass (TAP) is a contactless smart card used for automated fare collection on most public transport agencies within Los Angeles County, California. The card is also available in electronic form, free of charge, in Apple Wallet , thereby bypassing the need to purchase the plastic USD $2 card. [ 2 ]
4 day rail rover (UK, 1994). A transit pass (North American English) or travel card (British English), often referred to as a bus pass or train pass etc. (in all English dialects), [1] [2] is a ticket that allows a passenger of the service to take either a certain number of pre-purchased trips or unlimited trips within a fixed period of time.
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)), is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the consumer who ultimately bears the burden of the ...
Pronto (smart card) Pronto (stylized as PRONTO) is the contactless payment system for automated fare collection on public transit services in San Diego County, California. The system is managed by the San Diego Metropolitan Transit System (MTS) and operated by INIT Systems. Pronto is valid on all services operated by the MTS and the North ...
Value added tax (VAT), in which tax is charged on all sales, thus avoiding the need for a system of resale certificates. Tax cascading is avoided by applying the tax only to the difference ("value added") between the price paid by the first purchaser and the price paid by each subsequent purchaser of the same item.
Universal transit pass. In North America, a Universal Transit Pass (U-Pass)—also known as a Universal Access Transit Pass —is a program that provides students who are enrolled in participating post-secondary institutions with unlimited access to local transit. [1]