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Transportation management company to help employers capture new tax credits

BOULDER — Boulder-based company Commutifi Holdings Ltd. has launched a program to help companies eligible for new transportation tax credits target, capture and report eligible expenses to the state of Colorado.

A new law that takes effect next year will permit companies to receive tax credits if their employees reduce travel to and from work. Companies are eligible for a 50% return on Transportation Demand Management programs that they implement under the Alternative Transportation Options Tax Credit program.

Final rules for the new transportation program will be released next year, however the Commutifi service will give employers a jump start on maximizing the credit, according to a press statement from Commutifi.

Commutifi’s program will help employers calculate potential savings from commuter programs, meet state requirements, create transportation demand management programs, submit the plans to the state, and gather all documents to finalize an application for a tax credit program, according to the company. 

“The new tax credit once again shows that Colorado is a leader in alternative transportation. By assisting businesses across the state in creating the best commuting options possible, the state is prioritizing employee happiness and retention while reducing overall commuter emissions,” Andy Keeton, head of insights of Commutifi, said in a written statement.

Source: BizWest