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Tax Credit

All articles tagged with #tax credit

California Post-Production Tax Credit Advances to Newsom After Senate Passage
business1 day ago

California Post-Production Tax Credit Advances to Newsom After Senate Passage

The California Senate approved SB 2319 to create a separate post-production tax incentive (covering VFX, scoring, mixing and more) and sent it to Governor Newsom, but there is currently no funding in the state budget to support the program. The first-year incentive is projected around $35 million, far below the previously discussed $100 million, and Newsom would need to find funding if he signs the bill. Related efforts include exemptions for studios under AB136 amid ongoing budget constraints and industry advocacy from groups like the Motion Picture Editors Guild.

via Deadline|
#business#california#film-industry
California bets on post-production tax credit to recapture jobs
business8 days ago

California bets on post-production tax credit to recapture jobs

California’s share of U.S. post-production jobs has fallen as editing, sound and visual effects move to New York, Canada and the U.K. AB 2319 would create a 35%–50% tax credit on California post-production spending, seeking about $100 million annually, and heads to a Senate vote. Supporters say it could attract and retain work in-state, while economists warn it may mainly subsidize projects that would have stayed in California anyway. The measure comes as workers—from Foley artists to editors—see dwindling hours and salaries, and California’s broader film incentives require some production activity in-state. Critics question whether the policy will meaningfully expand employment given budget pressures.

via Los Angeles Times|
#business#california#film-industry
California rolls out up-to-$3,500 EV tax credit to accelerate switch to electric cars
technology22 days ago

California rolls out up-to-$3,500 EV tax credit to accelerate switch to electric cars

California announced a one-time incentive offering up to $3,500 off a new zero-emission car (price cap under $50,000) or half that for used EVs (under $25,000), funded with about $135 million and matched by automakers; initial eligible brands include Hyundai, Tesla, and Lucid, with Ford, Rivian, Chevrolet, Kia and others to join later, aimed at boosting EV adoption and cleaner air.

via ABC7 Los Angeles|
#california#carmakers#electric-vehicles
LA Filming Slips as State Expands Incentives
business1 month ago

LA Filming Slips as State Expands Incentives

LA shoot days fell about 12–13% in April–June versus a year earlier, with overall production roughly 36% below the five-year average. TV production rose 34% in the quarter, but features (-20%) and commercials (-22%) declined. California’s tax-credit program aided statewide spend, which rose 5% to $1.33 billion as 170 projects earned credits, with subsidized titles accounting for about a third of feature shoot days. Mayor Karen Bass is pushing for an uncapped tax credit and broader eligible categories to revive LA’s production economy.

via The Hollywood Reporter|
#business#filming#filmla
EV Demand Rebounds, Signaling Stabilization After Tax Credit Phase-Out
business1 month ago

EV Demand Rebounds, Signaling Stabilization After Tax Credit Phase-Out

Cox Automotive data show U.S. EV sales rose 14.2% quarter-over-quarter to 247,226 in Q2 2026—the strongest quarter since the federal EV tax credit expired—though they remain about 20.5% lower year-over-year; Tesla led with 124,800 deliveries, Toyota posted a 225% YoY surge amid a refreshed lineup, and automakers are pushing more affordable EVs as charging networks expand and state incentives persist, signaling market stabilization after the post-credit shock.

via InsideEVs|
#auto-industry#business#ev
Hilton Unveils 60% Film Tax Credit to Revive California's Hollywood
politics4 months ago

Hilton Unveils 60% Film Tax Credit to Revive California's Hollywood

California gubernatorial frontrunner Steve Hilton proposes a sweeping film-tax-credit plan that could reach 60% for some productions, with no annual cap and eligibility expanded to post-production and above-the-line costs, plus a Governor’s Expediter role and a revamped California Film Commission to attract shoots back to the state—potentially a five-year kick-start funded by broader spending moves, and possibly supported by a federal credit; the plan targets competition from states like Georgia amid industry contraction and AI disruption, and Hilton cites Trump’s endorsement.

via The Hollywood Reporter|
#california#film-incentives#hilton
California Bets on The Simpsons Movie 2 with $21.9M Production Credit
entertainment4 months ago

California Bets on The Simpsons Movie 2 with $21.9M Production Credit

California’s expanded Film & TV Tax Credit program will grant The Simpsons Movie 2 a $21.9 million credit (35% of its qualified expenditures), as part of nearly $193 million in incentives for 38 films this year; the package marks animation’s first big share under the new rules, which doubled annual spending to $750 million, with other beneficiaries including Phineas and Ferb ($3.5 million) and a DreamWorks project ($24.7 million). The sequel is set for a July 23, 2027 release.

via Variety|
#animation#california#entertainment
CBS Eyes Local LA Cop Drama Flint With Matt LeBlanc
television4 months ago

CBS Eyes Local LA Cop Drama Flint With Matt LeBlanc

CBS is developing Flint, a Matt LeBlanc–starring cop drama that would be shot in Los Angeles, joining other CBS series filmed locally in a bid to boost LA production; the move comes as CBS executives push for expanded incentives—federal credits and California tax-credit improvements—along with above-the-line and post-production cost eligibility to revive Hollywood’s TV production base.

via Deadline|
#cbs#flint#los-angeles
House GOP Blocks Vote on Health Care Subsidy Extensions, Raising Premium Concerns
politics8 months ago

House GOP Blocks Vote on Health Care Subsidy Extensions, Raising Premium Concerns

The House will not vote this week on extending the ACA's enhanced premium subsidies, leading to frustration among moderate Republicans who warn of rising insurance costs for over 20 million Americans. An effort to include the extension in a GOP health plan was blocked, and despite calls for bipartisan action, no immediate solution is expected before the year's end.

via CBS News|
#gop#health-care#house
U.S. EV Market Faces Challenges as Tax Credits End and Prices Rise
business10 months ago

U.S. EV Market Faces Challenges as Tax Credits End and Prices Rise

Ford's U.S. electric vehicle sales dropped 25% in October after the end of the federal tax credit, signaling a challenging year for EV sales, although overall vehicle sales increased slightly. Ford's stock declined modestly, but the company remains resilient due to its traditional auto sales and better-than-expected tariff impacts. EV makers like Rivian and Lucid also saw declines, reflecting broader market concerns about EV demand.

via Barron's|
#business#electric-vehicles#ev-sales
Hyundai and Kia EV Sales Plummet After Tax Credit End
business10 months ago

Hyundai and Kia EV Sales Plummet After Tax Credit End

Hyundai's electric vehicle sales plummeted in October following the expiration of the federal tax credit, with a 63% drop in IONIQ 5 sales, although hybrid sales increased. Despite the decline, Hyundai remains optimistic about reaching record sales in 2025 and continues to offer incentives. The market disruption is attributed to a surge of buyers before the tax credit ended, affecting not only Hyundai but also other automakers like Ford, Kia, and Honda.

via Electrek|
#business#electric-vehicles#ev-sales