Community News and Small Business Support Act provides tax incentives for local media and small businesses.

The Community News and Small Business Support Act introduces tax incentives to support local media and small businesses. It includes a credit for advertising in local media, applicable to eligible small businesses. Additionally, it provides a payroll credit for compensation of local news journalists, applicable to eligible local news journalist employers. These credits are designed to support local newspapers and small businesses by reducing their tax burden. The bill also includes provisions for the aggregation rule, limitation on assessment, and refundability of excess credit.

Community News and Small Business Support Act provides tax incentives for local media and small businesses.

The Community News and Small Business Support Act introduces tax incentives to support local media and small businesses. It includes a credit for advertising in local media, applicable to eligible small businesses. Additionally, it provides a payroll credit for compensation of local news journalists, applicable to eligible local news journalist employers. These credits are designed to support local newspapers and small businesses by reducing their tax burden. The bill also includes provisions for the aggregation rule, limitation on assessment, and refundability of excess credit.