Posted on 10/27/2024 5:26:05 PM PDT by artichokegrower
In an attempt to raise the rate of entertainment production in California — and the Los Angeles area in particular — Gov. Gavin Newsom unveiled a proposed expansion of the tax credit for the industry.
The expansion of the program, which started in 2009 and intended to incentivize the production of films and television shows in California, would more than double the credit from $330 million to $750 million. The program could go into effect as early as June 2025, pending approval from the state Legislature.
(Excerpt) Read more at ktla.com ...
Payback to the Hollowoody elitists. HOLLYWEIRD NEEDS TO PAY ITS “FAIR SHARE!”
Helping his rich friends. LOL
Newsom is handing out freebies to his Hollywood pals.
Of course
Reward your friends
Now he needs to expand the punishments of his enemies.
Let’s see, he can raise the taxes on the nearly non existent California Oil Inndustry.
My thoughts exactly...the produce nothing worth watching.
Newscum just dug his own grave!
LOL!
Now everyone knows why Hollywood elites support Kamala.
They PROFIT.
Hollywood needs to pay their fair share!
Or should I say, Big Entertainment Needs To Pay Their Fair Share.
With these tax credits, Big Entertainment would be paying a lower tax rate than Warren Buffett's secretary!
Taxpayers footing the bill for garbage
Too late. They already moved out to GA and the UK.
Big Entertainment good Big Oil bad.
Way to kill the California economy Newsom
Why do we need this, they should be TAXING Hollywood, every State should.
Drive all the refineries out of CA. Force everybody into EVs. But make more crappy movies! What a plan.
And just in time! For what? No idea.
“Newsome...plan...” = hang on to your wallets.
Great! Now Hollywood can attract more Leni Riefenstahl and Sergei Eisenstein wanna-bes.
He’s going to have to match the kind of tax credits that all of these companies are getting in England. The tax credits there are way above anything that happens here in this country. Georgia several years ago got on board with extensive tax credits and succeeded in getting a lot of production companies to move to that state.
But for California to compete with England, as far as tax credits go, they’re gonna have to deal out a whole lot more than what they’re gonna give. I believe England has a 25% rebate tax credit for movies made there. Disney for instance makes a lot of their pictures there for those tax critics.
With AI, movies can be made for minimal cost. No need for actors and all the infrastructure.
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