All articles tagged with #california tax credits
American Idol is relocating its production from Los Angeles to Georgia to capitalize on tax incentives and lower costs, continuing a trend of reality and game shows leaving California for states with broader incentives. California’s tax credits largely exclude unscripted fare (except for competition shows), fueling concerns about the long-term viability of keeping such productions in-state.
Paramount Television Studios and CBS Studios were awarded about $37.3 million in California film tax credits to shoot Viola Davis’s Ascent and a Clueless sequel in-state, making Paramount a top beneficiary in the latest incentive round which totals $145.5 million across nine productions. The credits come as Paramount battles California prosecutors over its bid to acquire Warner Bros. Discovery, highlighting California’s push to keep productions and jobs local in a competitive film-and-TV landscape.
California’s expanded Film & Television Tax Credit Program awarded credits to nine new TV productions, including a Clueless sequel series for Paramount+ and a Rockford Files reboot, with a combined $608 million in direct production spending across 1,014 filming days. Individual credits range from about $1.2 million for a Netflix animated series to $45 million for the largest Disney Entertainment Television project, signaling a significant boost to California’s TV production slate.
Tesla shares experienced a 4% drop amid uncertainty over California's electric vehicle tax credits and bearish analyst commentary, despite a recent post-election rally. Investors are advised to monitor key support levels at $310 and $265, with a potential bullish target of $500 if the stock resumes its upward trend. The stock's recent surge was partly driven by expectations of favorable policies under the new U.S. administration.
Citadel, the upcoming spy thriller series starring Priyanka Chopra Jonas and Richard Madden, has been awarded $25 million in tax credits by the California Film Commission to relocate from the UK to California for its second season. The tax credits program is expected to award around $80 million in incentives for this allocation round to seven TV series. Citadel's second season is projected to receive the most tax credits given to any TV show by California's program.