The Governor is set to unveil his proposed budget today. We will be looking at the proposal closely. From our perspective there are several key issues. First we will be looking to make sure there are no changes in the New York tax code that will adversely impact broadcasters. For example, we want to make sure there are no proposals to impose a sales tax or advertising or eliminate the current exemption broadcasters have with respect to the purchase of equipment. Second, the package will deal with legalization of recreational marijuana and on-line sports gambling. We want to make sure there are no state-imposed restrictions on advertising. Although with respect to marijuana, it will remain illegal as a matter of federal law. Because we operate under federal license, broadcasting advertisements for products that are illegal under federal law, places your license at significant risk. Stay tuned.
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