PIM Asks to Preserve Advertizing and Publication Tax Exemptions
Friday, October 05, 2012
Press release from the issuing company
St. Paul, MN--With just a few weeks before November 6th, media attention is focused on our local and national elections. At the same time, the Printing Industry Midwest continues to monitor activities at the MN State Capitol as Governor Mark Dayton's staff is hard at work crafting a budget for the next biennium.
The Printing Industry Minnesota is paying close attention to the budget recommendations, specifically, Governor Dayton's mission to lower the tax rate and broaden the sales tax base. MN Department of Revenue Commissioner Myron Frans supports this idea and suggests that our tax collection system has become out of balance with too much burden on property taxes. The Commissioner has stated that he would like to eliminate all exemptions (including advertising and publications).
The elimination of the advertising and publications tax exemptions would directly affect companies involved with the production of a wide variety of printed materials," said David Radziej, President of the Printing Industry Midwest. "It also extends to advertising placed in any of the currently exempt publications, including political advertising, and it would also affect forest products producers (who would unquestionably see a drop in the demand for their paper products), along with the many advertising agencies in Minnesota."
In an effort to preserve the advertising and publication tax exemptions, the Printing Industry Midwest formed a coalition with the American Assoc. for Advertising Agencies, Advertising Federation of MN, MN Broadcaster's Assoc., MN Forest Industries, MN Magazine & Publishing Assoc. and the MN Newspaper Association to represent over 50,000 employed by Minnesota's graphic arts and communication industry (including logging, paper mills, printing and mailing).
The coalition met with Commissioner Myron Frans and Susan Von Mosch, Assistant Commissioner for Tax Policy on September 27th to discuss the effects the proposed tax on publications and advertising would have on the overall MN economy. In addition, it was pointed out that in almost every case of other states enacting this tax, it was swiftly repealed.
As we move closer to the start of the legislative session, Governor Dayton may release portions of the proposed budget, said Radziej. "The Printing Industry Midwest will stay involved and continue to support best interest of the graphic arts and communication industry."
To post a comment Log In or Become a Member, doing so is simple and free