New York State introduces a $90m tax credit program to support local news media, offering $30m annually for journalist salaries.
New York State has passed a $90 million tax credit program to support local news media outlets, marking the first state to incentivize hiring and retaining local journalists. The three-year commitment, part of the state's 2025 budget, offers $30 million in guaranteed tax credits per year that can be used to cover half of a journalist's salary, up to $50,000 annually. Publishers must hire new reporters and keep their current staff to utilize the credits.
April 20, 2024
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