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NYSBA Supports New York Tax Credit for Journalists

Last year, NYSBA supported the Local Journalism Sustainability Act, which was a national effort to obtain a payroll tax credit for broadcast journalists. This campaign was supported by the National Association of Broadcasters and the News Media Alliance (news publishers). Unfortunately, the legislation failed to pass Congress last session and prospects look dim for passage this year.

NYSBA and the New York News Publishers Association have introduced legislation in New York seeking to create a payroll tax credit under New York tax law hiring journalists. The legislation (S.625A) was introduced in the New State Senate by Sen. Brad Hoylman and in the Assembly (A. 2958A) by Assemblywoman Carrie Woerner and Assemblyman Nadar Sayegh.

Similar to last year’s bills, the New York legislation would provide a payroll tax credit of up to $50,000 for each journalist hired by a local station or newspaper. The tax credit would remain in place for five years.

We have been pushing to include this tax credit in the Governor’s budget. While this is a long shot at this point, we will continue to push this legislation.

You can see a copy of the text of the legislation here.

NYSBA’s memo in support of the legislation can be seen here.

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