New York State’s budget was 125 days late when it finally was passed on Tuesday, but it contained something that printers throughout the state considered well worth waiting for: their continued exemption from the sales and use tax on printed and mailed promotional materials.
Printing Industries Alliance (PIA) said that preservation of the exemption is a major victory for printers in New York State. In a message to his members, Timothy Freeman, president of PIA, called the exemption “critical for our industry. It is a significant competitive advantage for New York State printers.”
“Let’s face it—we don’t have many others,” Freeman said. “In fact, as this situation played out, we spoke to several printers who had nervous customers asking about moving their jobs out of state.” Had the exemption been taken away, printers subject to the tax would have been obliged to collect as much as 10% on the selling price of direct mail, catalogs, and other products. This, according to PIA, could have cost the industry in New York State as many as 4,200 jobs and up to $600 million in annual shipments.
See full article at: Printing Industries Alliance Declares “Major Victory” for NYS Printers as State Budget Passes with Critical Tax Exemption Retained – Printing Office.
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