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Thursday, October 02, 2008
FILM TAX BREAKS INCLUDED IN BAIL-OUT BILL 

Nikki Finke points to this Los Angeles Times piece that reveals that pro-movie biz breaks are included in the bail-out bill that just passed the Senate and which is headed for the house. Specifically, the bill extends the film production cost deduction included in the 2004 Jobs Creation Act to December, 2009, and it lifts the budget cap on eligible films. Now, instead of being limited to films budgeted at up to $15 million, the deduction is capped at $15 million for any single film no matter what the budget.


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# posted by Scott Macaulay @ 10/02/2008 04:26:00 PM
Comments (3)

 
Does this kind of almost sound like extending more government funding to the arts? Except if the arts was a private business........
# posted by Anonymous Alicia VC @ 10/03/2008 8:01 PM  

 
On the one hand, I think it's outrageous for lawmakers to slip an earmark into an important piece of legislation like this. Then again, all this really does is provide film and TV producers with the same tax deductions that American manufacturers such as Boeing, General Motors, and Xerox receive for making their products in the U.S.
# posted by Blogger Mark Mandel @ 10/04/2008 7:22 PM  

 
Most people in the movie business assumed that this deduction was going to be extended. If it hadn't been slipped into this bill it would have been slipped into another. But yes, it was another sweetener to allow legislators to feel better about the bail-out bill.
# posted by Blogger Scott Macaulay @ 10/06/2008 1:23 PM  


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