CAA News Today
Action Needed: Restoring Tax Equity for Artists
posted by CAA — May 02, 2019
We urge our members to help support the Artist-Museum Partnership Act of 2019 (HR 1793), an important initiative to restore tax equity for artists. If passed the act would allow artists to deduct the fair market value of their work when donating to an institution or charity, rather than only the cost of supplies. While collectors donating artwork can currently deduct fair market value, artists are not permitted to.
First introduced in 2005, the measure has passed the Senate more than once in the past, but it still hasn’t become law.
Rep. John Lewis is now circulating a “Dear Colleague” letter in support of the act, which we urge all representatives to sign on to.
Click here to find your representatives.
For more on CAA’s advocacy efforts, click here.