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FCC mulls tax break scheme.

WASHINGTON Telecommunication companies could collect significant tax breaks by selling their media properties to minorities, women or fledgling entrepreneurs under a proposal outlined by the Federal Communications Commission.

FCC topper William Kennard announced last week he would like to resurrect the tax certificate program that would eliminate the capital gains tax for companies sold to minorities, women and even "smallscale entrepreneurs."

Program eliminated

Congress eliminated a similar tax certificate program five years ago after legislators became concerned it was being abused by so-called minority front companies. But in a June 17 speech to the Citizen Education Fund, Kennard insisted safeguards could be created to protect against abuse. Among his proposals is a limit on the number of times a company can take advantage of the tax break.

"A new tax certificate program should level the playing field by allowing small businesses of all types to have the same tax advantages that large corporations have," Kennard said.


For the week ending June 13

Show                    Rating/share

The Tonight Show             4.0/13
With Jay Leno
Late Show With                3.1/9
David Letterman
Nightline                     3.7/9
Politically Incorrect         2.3/7


Web                     Rating/share
CBS                          4.8/17
ABC                          3.4/12
NBC                          2.7/10


Show                    Rating/share
Today                        5.3/23
Good Morning America         3.2/14
This Morning                  2.0/9

WEEKEND A.M. (kids 2-11)

Web                    Rating/share
Fox                          2.1/13
WB                           2.1/13
ABC                          2.0/13
UPN                           1.7/9
CBS                           0.5/4
NBC                       2.1/15(*)

UPN kids programming typically runs Sunday.

Source: Nielsen

(*) teens 12-173

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Copyright 1999 Gale, Cengage Learning. All rights reserved.

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Date:Jun 21, 1999
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