Tax Exempt Newspapers
September 19th, 2009 by B
Photographer: a_kartha
Certain newspapers will be able to qualify as tax exempt if the following applies: the published newspaper contains local, national, or international news stories in which the public takes an interest; the newspaper is educational; the newspaper content follows methods which are “education in nature.” Newspapers will still be able to generate income from advertisers so long as the advertisements do not take up more space than the educational content. Essentially, under this bill, most newspapers will not have to pay taxes but will become tax exempt. H.R. 3602 was referred to the Committee on Ways and Means.
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