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.
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