A taxing matter…
Newday’s Janet Frankston Lorin writes about tax breaks in New Jersey and New York and how MSNBC and CNBC are benefitting…(via FTVLive)
Under a settlement between MSNBC and the authority, the state agreed to reduce state sales taxes on the Secaucus equipment.
The company isn’t refunding any money to the state, said Glenn Phillips, a spokesman for the authority. The state instead will reduce by $2.3 million future business grants to business news channel CNBC’s facility in Englewood Cliffs.
CNBC will need to retain a minimum of 590 jobs in Englewood Cliffs through 2020 or it will need to pay back its own business incentive grants, estimated at $4.6 million when approved in 1999. The state hasn’t given out any of the money because the company hasn’t yet reported the jobs, Phillips said.
Meanwhile, the New York City Industrial Development Agency earlier this year approved $1.5 million in tax abatements for MSNBC for moving 421 Secaucus jobs to Rockefeller Center.
“They’re taking our money and running,” Turner said. “In this case they’re taking our money and running into New York with these 400 New Jersey jobs.”
I wonder (and not because it’s MSNBC… but because it’s a new organization) could this be a form of buying good press? The state grants some tax breaks, and the network now feels beholden to them to ignore the bad stories, and promote the good.
Seems like a conflict of interest… anyone else think so?
Comment by ImNotBlue — May 14, 2007 @ 10:05 am
What a shock a news organization staffed by liberals is finding ways to get out of the taxes they want the rest of us to pay.
Comment by eddiebear — May 14, 2007 @ 11:04 am
“NYS Senator” hillary clinton & who fired arch foe Imus, MSNBC! BOYCOTT MSNBC/CBS
Comment by Ms. M — May 14, 2007 @ 11:19 am
This news item was originally online about 3-4 months ago. I am glad it is getting a bit more press.
Comment by Obama in 08! — May 14, 2007 @ 12:24 pm
I agree with what you said in #1, INB. But it’s not really news, because it’s not new. This story happens everyday in America, it doesn’t have a party, and it’s everywhere. However, with the increasing voice and prevalence of the internet, it is slowly becoming less of a problem.
Comment by erljr — May 14, 2007 @ 12:45 pm
This news item was originally online about 3-4 months ago. I am glad it is getting a bit more press.
And I covered 3-4 months ago when it came up…
Comment by Spud — May 14, 2007 @ 1:36 pm