ANNOUNCEMENT 30 Jun 2020
A movie received tax credits from the State of California in the financial year 2019-2020.
NUMBER OF INTERVENTIONS
State of California, California Film Commission, “Film and Television Tax Credit Program 2.0 - Alphabetical Listing of Approved Projects”. Available at: https://cdn.film.ca.gov/wp-content/uploads/2020/10/2.0-CFC-Approved-Projects-List-11-15-20.pdf
State of California, California Film Commission, “Film and Television Tax Credit Program 2.0”. Available at: https://film.ca.gov/tax-credit/program-2-0-resources/
The California Film Commission (CFC) announced the list of motion pictures that benefited from the Film and Television Tax Credit Program 2.0. Among the beneficiaries, Paramount Pictures Corporation with the movie titled “Circus” received a tax credit of USD 17.5 million in the 2019-2020 fiscal year. Given that the CFC didn't disclose the precise date the tax credit was granted, the most conservative date, i.e. 30 June 2020, was set as the inception date.
Launched in 2014, the Film and Television Tax Credit Program 2.0 provides tax credit for motion pictures produced in California up to 25% of their qualified spending. The tax credit program is administered by the CFM which is housed under the Governor’s Office of Business and Economic Development.