Advertising deductibility upheld.

The Republican tax bill turns out the deductibility of advertising for business, and on the strength of that, the National Association of Broadcasters released a statement in support of that legislation. In that statement, NAB president/CEO Gordon Smith said, “Local broadcasters applaud today’s House Ways and Means Committee introduction of comprehensive tax reform legislation that will grow America’s economy, specifically their decision to retain the full and immediate deductibility of business advertising expenses.”