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2d ago

California Awards $94 Million in Tax Credits to 48 Film Projects

Scheduled July reforms will make credits refundable over five years to bolster productions drawn away by out-of-state incentives.

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Overview

  • The California Film Commission approved 48 film and television projects for a total of $94 million in tax credits in the latest application round.
  • The selected projects are projected to generate $664 million in statewide spending and deliver more than $302 million in wages to over 6,500 cast and crew members and 32,000 background performers.
  • Netflix’s untitled project received the largest credit of $20 million and is slated to film in California for approximately 110 days.
  • Studio recipients include Sony, Warner Bros. and 20th Century, with individual awards ranging from $4.5 million to $9.4 million.
  • Reforms taking effect July 1 will allow studio film credits to be refundable over five years as part of a broader push to raise annual tax credit caps to $750 million.