Journalism Tax Credit Applications Open
A program that offers local journalism tax credits from the State is now open. It offers $15,000 for new journalists hired within the last year, and $10,000 credit for retained journalists.
The Illinois Press Foundation is ready to help news organizations through the process.
They’ve provided this information:
The application process for local journalism tax credits from the State of Illinois in 2026 is scheduled to open on Sunday, Feb. 1.
Through a grant from The Joyce Foundation, the Illinois Press Foundation continues to coordinate programming and access to help your news organization through this process – from the application to claiming the tax credit.
Because these credits are awarded on a first-come, first-served basis, we urge news organizations to apply as quickly as possible. If you have any questions throughout your application process, the programming made possible through The Joyce Foundation gives you free access to an accountant and attorney, both of whom were very helpful to many of you during the 2025 processes. They are:
- Larry Johnson, senior manager at accounting services firm Sikich in Springfield. He can be reached at Larry.Johnson@sikich.com.
- Brendan Healey, media law attorney at Baron Harris Healey in Chicago. He can be reached at bhealey@bhhlawfirm.com.
You also can reach out to me at jrogers@illinoispress.org with any questions you might have.
In preparation for the Feb. 1 application process opening, Larry and Brendan have compiled a list of helpful tips. Those are listed below, followed by some additional information and FAQs that were put together by our partners at Rebuild Local News. I will be sending regular reminders over the next few weeks, because we want to see all credits claimed this year. (While all $15,000 credits for retained journalists were claimed in 2025, not all $10,000 credits for new hires were claimed.)
Eligibility
- You must have at least one employee (even if you are the employee)
- Print, digital, and broadcast (radio and television) are all eligible.
- For-profits and non-profits are eligible.
- Public companies and non-public companies are eligible.
- Companies based in Illinois and companies that are not based in Illinois are eligible.
- You get money based on “qualified journalists.” A qualified journalist is not required to live in Illinois but must live within 50 miles of her coverage area and cover local Illinois news.
- Make sure you meet the publication frequency (this can be difficult for digital publications, which are required to publish at least one community-oriented piece per week for the prior 12 months)
- Another tricky criterion for digital-only publications is that 33% of your audience must be in Illinois.
- If you’re a non-profit, you can qualify, but you must state in your IRS filings that your mission is the coverage of state or local news. That does not have to be your only mission, but it must be part of it.
- The new journalist credit is based on a net increase in qualified journalists from January 1, 2025, to January 1, 2026. If you employed three qualified journalists on January 1, 2025, and have four as of January 1, 2026, you qualify for one new journalist credit.
Timetable
- Get your application in on February 1 or as close to February 1 as possible.
- Use the most current set of internal financial statements when preparing the application.
- The credit shall be applied to the first reporting period after the credit certificate is issued. If the amount of credit exceeds the liability for the reporting period, the excess credit shall be refunded to the taxpayer
Materials & Information
Have the following information and materials ready for the application
- Beneficial ownership information
- Qualified journalist information
- Gross receipts for the prior taxable year as reflected in cash flow statement. These are not required to be audited.
- Revenue earned for the previous taxable year as reflected in income statement. These are not required to be audited.
- Total payments received from PACs, Section 527 entities, and 501(c)(3) and 501(c)6) organizations (if any)
- Payments for political advertising in lowest unit windows (for broadcast entities)
- Cash flow statement
- Image of publicly posted beneficial ownership disclosure or list of board of directors
You may also need the following:
- IRS Form 990 (for non-profits)
- USPS periodical permit (for print publications)
- Images of local news stories
- Analytics sufficient to meet 33% Illinois digital viewers (for digital-only publications)
Also, here are two spreadsheets that were required to be completed by 2025 applicants. These may also be helpful as you prepare for this year’s process:
Important reminder: Read the frequently asked questions on the Illinois Department of Commerce and Economic Opportunity website before starting the application.
Also, as was mentioned previously, here is information that was compiled and shared by Rebuild Local News that you should find helpful:
Here’s what you need to know:
- Eligibility: For-profit or nonprofit local news outlets producing original journalism and employing W-2 newsroom staff
- Credits available:
- $15,000 per retained journalist
- $10,000 per net new journalist hired (Jan. 1, 2025 – Jan. 1, 2026)
- Up to $150,000 per newsroom; $250,000 cap for chains
- Why timing matters: Funding is capped statewide and awarded first-come, first-served
- Applications open: February 1, 2026
To help you prepare, we’ve put together a complete, easy-to-use resource package, including:
- An eligibility checklist
- A tax credit calculator
- A step-by-step application guide
- Two completed application examples