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Tag: Tax Credits

Steve Hilton Unveils Ambitious Plan to Revive Hollywood Production
Politics

Steve Hilton Unveils Ambitious Plan to Revive Hollywood Production

Republican gubernatorial contender Steve Hilton has rolled out a comprehensive strategy aimed at reversing the sharp decline in California's entertainment industry. The proposal tackles regulatory burdens and financial hurdles by introducing continuous tax credit approvals, eliminating funding caps, and expanding eligibility to previously excluded formats like commercials and reality TV. In addition to tax incentives reaching up to fifty percent, the platform includes state-backed financing and sales tax exemptions for studio modernization and construction. By streamlining bureaucratic processes and offering predictable support, the campaign hopes to restore the state's competitive edge against rival production hubs.

‘Michael’ Sequel to Get $31 Million in California Tax Credits
Entertainmentfilm-tv

‘Michael’ Sequel to Get $31 Million in California Tax Credits

Lionsgate's upcoming 'Michael' sequel is set to receive $30.8 million in state tax incentives from the California Film Commission. The production is among 35 films sharing a total of $226 million in the latest round of tax credits approved by the state. While the original film received a 17.5% credit on qualified costs, the sequel will benefit from California's more generous updated program, covering 35%. Other major studios, including Disney, Warner Bros., and New Line Cinema, also secured substantial funding for their upcoming projects.