Tuesday, January 19, 2021

JUST 4.6% OF APPLICANTS RECEIVE CA FILM TAX CREDITS

June 4, 2014 by · Leave a Comment 

Although only a relative handful of productions ever wind up being selected, 497 movie and TV producers on Monday applied for tax credits under the California’s lottery system. Some 23 projects were selected. They will divvy up the $100 million that the state sets aside each year for the program that seeks to keep film and TV production in the state. Applications numbered 117 more than last year, the California Film Commission said on Tuesday. In reporting on the results of this year’s lottery, the Los Angeles Times commented, “The surge in applicants underscores the importance that tax breaks and rebates play in helping to finance movies and TV shows, and a growing dilemma for California: the widening gap between demand for tax credits and the supply of available funds.” In recent years, California has seen a flight of productions to other states and countries that offer more lucrative tax incentives, triggering demands from local producers that the California make its program more competitive.