March 25, 2014 |
SACRAMENTO - Proposed legislation aimed at providing more tax credits to attract so-called runaway movie and television productions back to the industry's birthplace in California won initial approval from a legislative committee Tuesday. The proposal would renew and increase a state tax credit - amounting to as much as $400 million a year - to better compete with generous tax subsidies available in more than 40 states, including New York, Louisiana, New York and Michigan, as well as studios in Canada and Britain.
March 12, 2014 |
When the producers of “Last Days in the Desert” needed an environment for their biblical allegory, they knew just where to travel. They headed 31/2 hours southeast of Los Angeles to one of the largest state parks in the country. Spanning 600,000 acres, hundreds of miles of dirt roads and a dozen wilderness areas, Anza-Borrego Desert State Park has been an attractive, if underused, film location, featured in such movies as Warren Beatty's “Bugsy” and the Universal Pictures action film “The Scorpion King.” But the producers behind “Last Days in the Desert” liked the park so much that they opted to shoot all 24 days in the vast wilderness, which is named after 18th century Spanish explorer Juan Bautista de Anza.
February 22, 2014 |
More than 1,000 entertainment industry workers gathered in Burbank on Saturday, launching a campaign to support an expansion of California's film and TV tax credit program. The rally, organized by a coalition of entertainment industry unions, drew an unusually large swath of set decorators, prop makers, grips, camera operators and other technicians who filled two conference rooms at the Pickwick Gardens on Riverside Drive. They were urged by union leaders to volunteer their services and write emails and letters to state lawmakers in support of legislation recently introduced by Assemblymen Raul Bocanegra (D-Pacoima)
January 30, 2014 |
Moss Adams, one of the nation's largest accounting firms, has launched an online exchange for trading film and other tax credits. Called the Moss Adams Tax Credit Exchange , the marketplace allows film producers and other companies with tax credits to match up with buyers, converting credits they can't use into cash they can reinvest in their business. Buyers can purchase credits online, helping them offset state taxes owed. “We're proud to bring the exchange to our clients and future members and expect it to transform the way tax credits are purchased and sold,” said Rob O'Neill, state and local tax partner at Moss Adams.
January 5, 2014 |
SACRAMENTO - California's two top legislative leaders - both Democrats - have their eyes on 2014 as California faces big challenges in continuing to improve the state's still underperforming economy. They're pleased that after years of austerity, the Assembly and Senate along with Democratic Gov. Jerry Brown have stabilized the state's budget, raising revenues, keeping spending in check and even socking away money for future downturns. Even so, state unemployment remained high at 8.5% in November, despite a quickening job creation pace.
January 2, 2014 |
Hollywood stakeholders are calling on California to bolster its film and TV tax credit to keep its homegrown industry from permanently leaving the state. Film industry and union officials are mobilizing to back legislation this year that would substantially increase funding for the state's film incentive program and lift some restrictions to make the program more competitive with those offered by New York, Georgia and other states and countries. "The bottom line is, these countries and these states realize what production means to them, and we have to show them [lawmakers]