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Bill clarifies reversion B&O rate if newspaper exemption is lost
2219320 · February 4, 2025
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Summary
Senate Bill 5458 would clarify the business-and-occupation tax rate that applies to newspaper businesses if they are found ineligible for a total B&O exemption enacted last year; the bill designates 0.484% as the reversion rate.
A committee staff report and media-industry testimony explained that Senate Bill 5458 clarifies the tax rate that would apply if a newspaper business is found ineligible for the total B&O exemption enacted in 2023.
Jeff Mitchell, committee staff, said the 2023 law (Senate Bill 5199) created a 10-year total B&O…
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