New York’s sales tax law has been amended to provide an exemption from sales and use taxes for electronic news services and electronic periodicals that have the predominant purpose of presentation of news content and hold themselves out as a news service, magazine, periodical, or similar service. Ch. 583, N.Y. Laws 2011. The new provision appears to be designed to exempt online news sources that are similar to printed news sources, such as the online versions of newspapers and magazines, which are also exempt from sales and use tax if all statutory prerequisites are met. Tax Law §§ 1115(a)(5), 1118(5). The new law will take effect on March 1, 2012, and the Department has announced it will be issuing guidance to provide a detailed explanation of the amendment, including the requirements that must be met in order to qualify.