The State has launched a new form of a film office in the Department of Cultural Affairs called Produce Iowa. The office is currently in the process of submitting information into a new web-based production guide for our state. Producers worldwide will be able to search for Iowa crew, support services and locations 24/7.
House Ways and Means Committee Chairman Dave Camp, R-Mich. is continuing in his attempt to draft major tax reform legislation. Sources from within the committee indicate that the limitations on the deductibility of advertising may be worse than anything the industry had feared. According to multiple reports the current proposal would only allow a 50% deduction of advertising expenses in the first year, with the remaining 50% to be amortized over a period of ten years. This would have a devastating impact on the industry and economy as a whole.
As I am sure you are aware, Congress may soon be taking up the first major reform of the U.S. Tax Code in nearly 30 years. We have learned that Congressional leaders who are drafting the proposal have heard suggestions that the deduction businesses take for the ordinary and necessary expense of advertising costs should be reduced significantly as a way to generate more revenues to help pay for tax reform. To lower corporate tax rates, “some suggest looking [for new revenues] at the deduction for advertising [costs], a commonly used business write-off.” (Wall Street Journal, August 2, 2013). This would constitute a tax on advertising and increase the cost of advertising for all businesses, as well as the tax liability for major advertisers.
The Digital Advertising Alliance (DAA) has released new a new Mobile Guidance for applying its Self-Regulatory Principles currently enforced on the web to mobile environments, in order to provide consumers with easily accessed privacy controls in this increasingly used medium. The DAA administers the AdChoices icon and the self-regulatory program for online behavioral advertising. AAF is a participating association of the DAA and sits on its board of directors.
The U.S. government won’t appeal a court decision blocking it from requiring tobacco companies to put large graphic health warnings on cigarette packages.
A judge invalidated New York City’s ban on large sugary drinks on Monday, one day before it was to go into effect, dealing Mayor Michael R. Bloomberg a major blow.
Please join us for the sixth annual American Advertising Federation Iowa Legislative Day at the Capitol on behalf of over 1,000 AAF members statewide! Take some time to join in discussions with state legislators and advertising professionals from around the state on the value of advertising services to the State and to promoting products and services in our global economy.
For the first time since a failed Florida attempt in 1987, two U.S. governors are proposing state taxes on business services, including advertising, threatening revenue streams for local broadcasters, publishers and outdoor-display owners. Both Gov. John Kasich, R-Ohio, and Gov. Mark Dayton, D-Minn., are considering as part of their budgets for 2014 plans to reduce state sales taxes. “It’s still early in the process, but anytime these issues show up, we have to take it seriously,” says Keith Scarborough, the Association of National Advertisers’ senior vice president for government relations. Adweek