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New York: New Cap Amount for Electronic News Services Exemption


 New York to get new cap amount for electronic news service exemption, June 2014.

The State of New York provides an exemption from sales and use tax for certain electronic news services. The exemption is allowed for businesses selling the service “at or below the cap amount.”  Cap amount is defined as “300% of the annualized average daily newsstand price of the three newspapers with the largest total paid national daily circulation.”

Each year, the cap amount is altered. The new amount is announced by April 1 by the New York State Department of Taxation and Finance and takes effect for the 12 month period beginning the following June 1.

Between June 1, 2014 and May 31, 2015, the cap amount will be $2,555. Will the exemption still apply to your business?

How does your business manage sales tax and sales tax exemptions? Learn how an automated solution works.

photo credit: jblyberg via photopin cc


Gail Cole
Avalara Author
Gail Cole
Gail Cole
Avalara Author Gail Cole
Gail began researching and writing about sales tax in 2012 and has been fascinated with it ever since. She has a penchant for uncovering unusual tax facts, and endeavors to make complex sales tax laws more digestible for both experts and laypeople.