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ATLANTA The Virginia General Assembly on Friday will vote on a measure calling for the removal of tax exemptions on the purchase of advertising time and space.
Under current law, advertising is exempt from the 4 percent sales tax applicable to all purchases. If this proposal goes into law, however, all businesses that buy advertising will be required to pay 4.5 percent sales tax, effective July 1.
The Assembly will likely vote on the measure tomorrow, and the Senate will be asked to vote on the package as soon as Sunday.
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