New Federal Tax Law Provides Significant Benefits to Film and Television Productions
On October 22, 2004, the President signed into law major tax legislation known as the American Jobs Creation Act of 2004 (the "New Tax Law"). It removes what the World Trade Organization believes are subsidies given to US exports under the US tax law and replaces the subsidies with new provisions to assist US businesses. The New Tax Law, which is hundreds of pages long, also makes numerous other changes, including changes that provide significant tax benefits for film and television productions. These benefits are outlined here. Read more.
October 31, 2004