Monday, February 2, 2009

Forget profits, can we turn papers into charities for public benefit?

Roy Greenslade writes:

They point out that under US tax law, endowed newspapers would be exempt from taxes on income and the people who make donations to such organisations would also be eligible for tax deductions.

I have no idea whether the same would be true if our newspapers were constituted as charities, but even if that tax problem was overcome the next hurdle might make current owners blanch.

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