New York A 4253: Establishes tax credits for local newspaper subscriptions, newspaper payrolls, and local media advertising

Bill Text

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A04253 Summary:

BILL NOA04253 

&nbsp

SAME ASNo Same As

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SPONSORMcDonough

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COSPNSR

&nbsp

MLTSPNSR

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Amd §§606 & 210-B, Tax L

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Establishes tax credits for local newspaper subscriptions, newspaper payrolls, and local media advertising.

Go to top A04253 Actions:

BILL NOA04253 

&nbsp

01/31/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA04253 Committee&nbspVotes:

Go to topA04253 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04253 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4253

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 31, 2025
 ___________

 Introduced by M. of A. McDONOUGH -- read once and referred to the
 Committee on Ways and Means

 AN ACT to amend the tax law, in relation to establishing tax credits for
 local newspaper subscriptions, newspaper payrolls, and local media
 advertising; and providing for the repeal of certain provisions upon
 expiration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 606 of the tax law is amended by adding a new
 2 subsection (qqq) to read as follows:
 3 (qqq) Local newspaper subscription tax credit. (1) Allowance of cred-
 4 it. A taxpayer with a subscription to a local newspaper during the taxa-
 5 ble year shall be allowed a credit against the tax imposed by this arti-
 6 cle in an amount not to exceed two hundred fifty dollars.
 7 (2) Definitions. (A) For the purposes of this subsection, "local news-
 8 paper" shall mean any print or digital publication if: (i) the primary
 9 content of such publication is original content derived from primary
 10 sources and relating to news and current events;
 11 (ii) at least fifty-one percent of the readers of such publication,
 12 including both print and digital versions, reside in:
 13 a. a single county within this state, or
 14 b. a single area with a two hundred mile radius;
 15 (iii) at least fifty percent of such publication's content is original
 16 and is created or produced by persons receiving compensation for their
 17 services from such publication;
 18 (iv) the publication employs at least one local news journalist who
 19 resides in such county or single area; and
 20 (v) the publication employs not greater than two hundred employees.
 21 The requirements of clauses (i) through (v) of this subparagraph shall
 22 not be treated as met unless such requirements are met at all times

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08442-01-5

 A. 4253 2

 1 during the period beginning on the date which is two years before the
 2 effective date of this subsection.
 3 (B) In the case of any print or digital publication which is published
 4 by any tax exempt organization, such publication shall be treated as a
 5 local newspaper only if:
 6 (i) the publication of print and digital publications is the primary
 7 activity of such organization, and
 8 (ii) any person making a charitable contribution to such organization
 9 may elect to treat such contribution as an amount paid or incurred for a
 10 subscription to which this subsection applies in lieu of treating such
 11 contribution as a charitable contribution.
 12 § 2. Section 606 of the tax law is amended by adding a new subsection
 13 (rrr) to read as follows:
 14 (rrr) Newspaper payroll tax credit. (1) General. A taxpayer shall be
 15 allowed a credit against the tax imposed by this article for each quar-
 16 ter during the taxable year in an amount equal to the applicable
 17 percentage of the qualified journalism compensation paid to each indi-
 18 vidual for such quarter.
 19 (2) Amount of credit. (A) The amount of qualified journalism compen-
 20 sation paid with respect to any individual which may be taken into
 21 account under paragraph one of this subsection during any quarter during
 22 the taxable year by the eligible newspaper employer shall not exceed
 23 twelve thousand five hundred dollars.
 24 (B) The credit allowed by paragraph one of this subsection with
 25 respect to any quarter during the taxable year shall not exceed the
 26 applicable employment taxes on the wages paid with