Fund-raising sales of magazines

From the 2024 DOR Tax Exemption Study

82.08.02535 - Fund-raising sales of magazines Description Magazine subscriptions are exempt from sales tax when sold by schools or nonprofit organizations benefitting boys and girls 19 years and younger for purposes of raising funds to support their school or organization. Purpose To support these organizations. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.423 $0.418 $0.418 $0.418 Local Taxes $0.190 $0.188 $0.188 $0.188 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.383 $0.418 $0.418 Local Taxes $0.000 $0.172 $0.188 $0.188 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Growth rate mirrors the newspapers, periodicals, and books industrial production growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. - Of the total magazines sells to households, 10% are sold via fundraisers. - Local revenue estimates use the statewide average local sales and use tax rate of 2.92%. Data Sources - Economic and Revenue Forecast Coun