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Big Money Joe works for a high-end law firm in New York City. Joe parks his big fancy AMG Mercedes in a spacious garage. The

Big Money Joe works for a high-end law firm in New York City. Joe parks his big fancy AMG Mercedes in a spacious garage. The law firm pays $500 per month for the parking for Joes fancy car. Which of the following is correct?

a. The parking is taxable to Joe. There are no exclusions for parking.

b. The parking is taxable to Joe, because it exceeds the monthly allowable limit.

c. The parking is taxable to Joe, to the extent it exceeds the monthly limit.

d. The parking is not taxable to Joe.

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