Originally published April 26, 2009 at 9:48 PM | Page modified April 26, 2009 at 11:04 PM
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State Legislature OKs tax cut for newspapers
The Legislature has approved a measure to give the state's struggling newspaper industry a temporary break on the state's main business tax.
OLYMPIA — The Legislature has approved a measure to give the state's struggling newspaper industry a temporary break on the state's main business tax.
The Senate passed the bill on a 46-2 vote Sunday. It passed the House last month and now goes to Gov. Chris Gregoire.
Under the proposed measure, House Bill 2122, the business and occupation tax on newspapers would be cut by 40 percent through 2015.
Newspapers across the state have resorted to buyouts and freezes on pensions and retirement plan contributions to stem the financial free-fall.
The Seattle Post-Intelligencer printed its last edition last month, and was converted to an Internet-only publication with a much-reduced staff.
Copyright © 2009 The Seattle Times Company
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