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.
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.
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