California Lawmakers Near Deal to Address Impact of Tax Cap on Film Credits
The agreement falls short of a full carveout for the entertainment industry from a $5 million annual limit on corporate tax credits. California lawmakers are closing in on a deal to help film producers who are facing new limits on their ability to monetize production tax credits.
Reported by 1 outlet — Variety. See all sources ↓
The agreement falls short of a full carveout for the entertainment industry from a $5 million annual limit on corporate tax credits. California lawmakers are closing in on a deal to help film producers who are facing new limits on their ability to monetize production tax credits. The agreement falls short of the entertainment industry’s goal of a full exemption from a $5 million annual cap on corporate tax credits, according to multiple sources. The state budget, approved in June, imposed the across-the-board limit for the next three years in a bid to stabilize state revenues.
Read the full report at Variety ↗
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- What's the story?
- The agreement falls short of a full carveout for the entertainment industry from a $5 million annual limit on corporate tax credits. California lawmakers are closing in on a deal to help film producers who are facing new limits on their ability to monetize production tax credits.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 2m ago.
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California Lawmakers Near Deal to Address Impact of Tax Cap on Film Credits
Sources1TypeCoverageVariety