Sen. Ben Cardin: let newspapers operate as non-profits
From this:
Struggling newspapers should be allowed to operate as nonprofits similar to public broadcasting stations, Sen. Benjamin Cardin, D-Md., proposed Tuesday.
Cardin introduced a bill that would allow newspapers to choose tax-exempt status. They would no longer be able to make political endorsements, but could report on all issues including political campaigns.
Advertising and subscription revenue would be tax-exempt, and contributions to support coverage could be tax deductible.
He says it's mainly intended for local papers; an industry group supports the scheme.
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Tue, 03/24/2009 - 13:47 · Importance: 4
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My job is already a non profit. May I have the same status please?