Entertainment & Sports
Jul. 21, 2012
A little-known perk of film tax credits
As California debates renewing its film tax credit, one lesser known fact is that part of the subsidies never go to film projects at all. Instead, the public funds wind up in the hands of multinational corporations and wealthy individuals.
Daily Journal Staff Writer
As the California Legislature debates renewing the state's $100 million annual film and TV tax credit program, one lesser known fact is that a portion of the subsidies never go to film projects at all. Instead, the public funds wind up in the hands of banks, multinational corporations and wealthy individuals.
With about 40 states offering a combined $1.4 billion a year to attract film crews, industr...
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