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THERE’S NO BUSINESS LIKE SHOW BUSINESS
The Jobs Creation Act of 2004 (the “Act”) included the investment incentives available to investors in the entertainment industry. The first is provided under Section 181 of the Code and deals with the tax treatment of certain qualified television and film productions. The second incentive program is available under Section 199 of the Code. Section 199 provides a reduction in taxable income generated by a qualified film. While the incentives were scheduled to expire at the end of 2009, the recent federal rescue package, passed by Congress on October 3, 2008, extended Section 181 to apply to the cost of any qualifying film and television productions commencing before 2010. Additionally various states have enacted tax incentive programs to promote the entertainment industry in their states.
THANK YOU TO SURVEY PARTICIPANTS
We at Levin Ginsburg want to thank everyone who took the time to respond to the survey we sent out earlier this year regarding topics of interest for our 30th Anniversary Symposium. We appreciate the time spent to respond and to provide us with topics on which they would like to have us present. The information gathered from the survey was very helpful and is being used to plan for our 30th Anniversary Symposium. The planning continues and later this summer announcements as to topic, time and place will be sent to oure-mailcontact list.