Many of us have been waiting patiently for any news about whether the federal film production tax incentives made possible under IRS Section 181 will be extended.
Posts Tagged ‘Tax Credit’
“American Jobs Creation Act: Section 181” provides 100% Federal deductions against passive income. State Film Production Tax Credits may also be available. What Is Section 181? How Does Section 181 Work? Who Is Eligible for Section 181 Deductions? Section 181, first enacted by Congress in 2004, and blogged about here, was extended and modified on […]
In 2003 Illinois introduced a wage-based tax credit for film producers. In December of 2008 Illinois passed the Illinois Film Production Tax Credit Act, offering producers a credit of 30% of all “qualified expenditures,” including post-production, and has no expiration. To promote growth and job opportunities in the Illinois film industry, the Act is to beneficial to […]