ANNOUNCEMENT 30 Jun 2019
A television series received tax credits from the state of California in the financial year 2018-2019.
NUMBER OF INTERVENTIONS
In 2014 the state of California enacted a law (AB 1839) increasing the level of state subsidies to the motion picture industry to $330 million annually over five years, beginning in 2015. Another bill enacted in 2018 (SB 871) continued the $330 million annual subsidy through 2025.
One of the productions that benefited from this subsidy was the TV series “Penny Dreadful 4: City of Angels,” for which Possible Productions Inc. received $24,745,000 in tax credits in the financial year 2018-2019 (1 July 2018 to 30 June 2019).