Income tax, state; tax credit for eligible small business advertising in local newspapers and media.
Sponsored By: Alfonso H. Lopez (Democratic)
Failed
Summary
Income tax credit; advertising in local newspapers and media. Creates, for taxable years 2025 through 2029, a nonrefundable income tax credit for eligible small businesses with fewer than 50 employees for certain expenses incurred for local media advertising in a local newspaper or in a broadcast of a local radio or television station. The credit is equal to (i) for the first taxable year in which the credit is claimed, the lesser of 80 percent of the actual amounts paid or incurred for qualified local media advertising expenses or $4,000 and (ii) in subsequent taxable years, the lesser of 50 percent of the actual amounts paid or incurred for qualified local media advertising expenses during such taxable year or $2,000. The credit includes an aggregate cap of $10 million per taxable year.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Alfonso H. Lopez
Democratic • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Left in Finance
2/4/2025HouseImpact statement from TAX (HB2514)
1/24/2025HouseAssigned Finance sub: Subcommittee #2
1/24/2025HouseReferred to Committee on Finance
1/8/2025HousePrefiled and ordered printed; Offered 01-08-2025 25102644D
1/8/2025House
Bill Text
Substitute
1/28/2025
Introduced
1/8/2025
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