NEWSPAPER TAX CONSIDERED

Tax
Tennessee Republican Lawmakers considering legislation that would lift the sales tax exemption on newspapers and magazines. This even as many print organizations are struggling to stay afloat in the face of internet competition. Chattanooga Republican Sen. Todd Garden hire says imposing a sales tax on newspapers and magazines would raise an estimated $15 million in new revenue for state and local governments. A spokesman for the Tennessee press association says any tax would likely be passed on to consumers in the form of higher newsstand prices and subscription rates. The proposed bill would also apply sales tax on advertisements in publications. The press association says it opposes the idea because it would penalize many smaller publications.

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