A proposed tax on advertising has been rejected by a South Dakota House committee after opponents said it would hurt the economy and be unfair to Main Street businesses, reports KELO-TV. The Taxation Committee voted 9-5 to kill HB1266. It would have imposed a 4% tax on advertising sold by newspapers, radio and television stations, weekly shoppers and other outlets.The bill’s main sponsor, Representative Thomas Deadrick of Platte, says the estimated $5 million in tax revenue could be used to help school districts.
But opponents say the tax would hurt the economy and would be difficult to administer.
RBR/TVBR observation: The last thing any media and advertisers need right now is a tax on advertising. Perhaps some controls on drunken-sailor government spending for the last eight years (and moving forward) would be more prudent.
