EDITORIAL WISCONSIN NEWSPAPER ASSOCIATION
As the members of the Wisconsin Joint Finance Committee work on the 2023-25 state budget, we ask that they include language to establish a tax credit that will help small businesses advertise with local media outlets in Wisconsin.
This proposal is being championed by State Representative Todd Novak.
In recent years, small businesses in Wisconsin have been forced to deal with the impacts of the COVID-19 pandemic, worker shortages and now, inflation and supply chain challenges. All have combined to take an incredible toll on many small businesses in our state.
Main street businesses in all sectors and all parts of Wisconsin have faced challenges on a level never seen before. Local media outlets, most of which are small businesses themselves, are dealing with the same obstacles. Community focused, family run businesses, including newspapers, are in the same perilous position as many retailers, hospitality businesses and small manufacturers are in trying to keep their businesses stable under difficult circumstances.
To provide some relief for these small businesses, ask the members of the Joint Finance Committee to support the effort being led by Representative Todd Novak (R-Dodgeville) to establish a 25 percent tax credit for small businesses to purchase adverting in local media outlets.
The tax credit would be capped at $2,500 and sunset after five years. Qualifying advertising would have to be placed in Wisconsin-based media outlets including newspapers, radio stations, television stations and internet news sites.
The advertising incentive creates a win-win scenario for small businesses that want to advertise and for local media. Similar legislation was proposed during the last legislative session garnered bipartisan support among legislators and trade associations representing broadcasters, chiropractors, dentists, grocers, independent businesses, petroleum marketers, convenience stores, restaurants, taverns and newspapers.
The tax credit is meant to be a short-term incentive that will help small businesses throughout Wisconsin weather these difficult times.