Massachusetts H3232 provides tax credits for local newspaper subscriptions and advertising to support local journalism.

Massachusetts H3232 introduces tax credits to support local journalism. It allows eligible local newspaper publishers a credit against employment taxes for wages paid to local news journalists. The credit is limited to the applicable percentage of wages, not exceeding $12,500 per journalist per quarter. Additionally, taxpayers can claim a credit for subscriptions to local newspapers, with an annual dollar limitation of $250. The bill also provides a credit for advertising in local newspapers, with a cap of $5,000 for the first year and $2,500 for subsequent years.

Massachusetts H3232 provides tax credits for local newspaper subscriptions and advertising to support local journalism.

Massachusetts H3232 introduces tax credits to support local journalism. It allows eligible local newspaper publishers a credit against employment taxes for wages paid to local news journalists. The credit is limited to the applicable percentage of wages, not exceeding $12,500 per journalist per quarter. Additionally, taxpayers can claim a credit for subscriptions to local newspapers, with an annual dollar limitation of $250. The bill also provides a credit for advertising in local newspapers, with a cap of $5,000 for the first year and $2,500 for subsequent years.