Media Lines Up for Tax Hand Out
While it appears that FTVLive might be eligible for this free tax break, we will not be asking for a hand out. But, that doesn’t mean that other media companies might be lining up to get free money as part of the new reconciliation bill.
On page 1,957 of the reconciliation bill, it has a portion that will provide $1.67 billion special tax handout to media companies, under the guise of helping "local" journalists.
Americans for Tax Reform says companies of any size are eligible for the tax credit. Broadcast, print, and digital companies all qualify. Each company is allowed to claim the tax credit for up to 1,500 of their employees.
How many local TV stations employ 1.500 people?
But, if companies like Nexstar, Sinclair, Tegna, NBC and put their hand out, it could save them as much as $130 million dollars over the next 5 years.
A number of media outlets have reported on the reconciliation bill, but as far as we know, no TV station group has stepped up and said if they will take the free hand out?
Shouldn’t they have an obligation to disclose whether or not they stand to benefit from the bill and if they will accept the hand out?
As we said, FTVLive will not be asking for the hand out.