U.S. Congress - H.R.3602 To allow certain newspapers to be treated as described in section 501(c)(3) of the Inte...
H.R.3602 - To allow certain newspapers to be treated as described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code.
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- Official: To allow certain newspapers to be treated as described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code. as introduced.
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Official Summary
9/17/2009--Introduced.Amends the Internal Revenue Code to exempt from income taxation a newspaper corporation or organization if: (1) it publishes on a regular basis a newspaper for general circulation; (2) its newspaper contains local, national, and international news stories of interestOfficial Summary
9/17/2009--Introduced.Amends the Internal Revenue Code to exempt from income taxation a newspaper corporation or organization if:(1) it publishes on a regular basis a newspaper for general circulation;
(2) its newspaper contains local, national, and international news stories of interest to the general public and the distribution of such newspaper is necessary or valuable in achieving an educational purpose; and
(3) the preparation of the material contained in such newspaper follows a methodology generally accepted as educational. Exempts the advertising income of a tax-exempt newspaper corporation or organization from taxation as unrelated business income and allows a charitable tax deduction for contributions to such newspaper corporation or organization.
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Recent News Coverage
Newspaper rep urges tax break, new pension rules
...— and it should not be regarded — as just another industry," Starr said. "Its democratic political system just can't function without diverse, free and independent sources of news."___The bills are H.R.3602 and S.673___On the Net:http://www.thomas.g
Newspaper Rep Urges Tax Break, New Pension Rules
..."Its democratic political system just can't function without diverse, free and independent sources of news." ___ The bills are H.R.3602 and S.673 ___ On the Net: http://www.thomas.gov Copyright 2009 The Associated Press. All rights reserved. This mater
Recent Blog Coverage
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Newspaper rep urges tax break to help with losses_15426
The bills are HR3602 and S.673. “Newspapers need cash now to preserve jobs next year,” he said. “It's really that simple.” Rep. Carolyn Maloney, the committee's chairwoman,gucci shoes homme, conducted the hearing to look at the future ...
PUBLISHERS URGE MORE PUBLIC AID FOR NEWSPAPERS, BUT HR 3602 WON'T ...
Carolyn Maloney (D-NY), has introduced her own bill (HR 3602) to allow newspapers to become tax exempt under section 501(C)(3) of the tax code. Her bill somewhat mirror Senate bill 673 by Sen. Benjamin Cardin, D-Md., that was discussed ...
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