Bill
HF 2221
Overview: HF 2221, Individual income and corporate franchise taxes; local advertising expenses credit allowed, Introduction and first reading, referred to Taxes, Introduced on Marc
Overview: HF 2221, Individual income and corporate franchise taxes; local advertising expenses credit allowed, Introduction and first reading, referred to Taxes, Introduced on March 12, 2025.
Purpose and Intent: The bill aims to provide a tax credit for businesses that incur local advertising expenses. The goal is to incentivize companies to invest more in promoting their goods and services within their local communities.
Key Provisions:
- Establishes a refundable tax credit equal to 50% of a business's qualified local advertising expenses
- Defines "qualified local advertising expenses" as costs for advertising placed in local media outlets, community publications, or other hyper-local marketing channels
- Applies the credit to both individual income taxes and corporate franchise taxes
Affected Parties and Impacts:
- Businesses of all sizes would be eligible for the local advertising tax credit, potentially boosting their marketing budgets
- Local media outlets, community publications, and other hyper-local advertising channels could see increased demand
- Consumers may be exposed to more locally-focused advertising and marketing
Procedural and Timeline Considerations:
The bill has been introduced and referred to the Taxes committee for further review. If enacted, the local advertising tax credit would be available starting in the next tax year.
Compiled from official sources — confirm details with the bill’s official record.
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