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- Title
Considerations to Extend or Expand Film Tax Credits and Incentives: An Exploratory Study.
- Authors
Crespi, Cheryl; Kulesza, Marie
- Abstract
Over more than 2 decades, the tax landscape for U.S. film production has been in flux and continues to be in flux. Since the mid-to-late 1990's, the U.S. film production industry has been a subject of national interest when foreign countries began to lure away film production with various economic incentives. As a result, U.S. film production became a subject of tax interest with Congress enacting I.R.C. § 181, a deduction for qualified film production costs, in an effort to stem the loss of U.S. film production. Thereafter, individual states began offering lucrative tax credits and other incentives. These initiatives, on both the federal and state levels, were specifically designed to make film production in the United States more attractive. Recently, however, some states have reduced these credits and incentives and I.R.C. § 181 expired at the end of 2014 while international competition for film production has intensified. This paper provides an exploratory study of the tax and revenue implications for film production in light of these recent developments.
- Subjects
UNITED States; TAX credits; MOTION picture industry taxes; TAX incentives; RIGHT of initiative; MOTION picture industry; FILMMAKING; OPENING &; closing credits; MOTION pictures
- Publication
Journal of Applied Financial Research, 2015, Vol 2, p45
- ISSN
2381-3105
- Publication type
Article