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California: state doubles its tax:
California
The state doubles its tax credits for cinema – California: state doubles its tax
California validated on Friday the doubling of its tax credits for film. For example, television production.
Spring flowers around Lake Hollywood Park under the Hollywood panel, California, May 12, 2025.
AFP
The California Parliament approved on Friday the doubling of the tax credits granted to cinematographic. Consequently, television production in order to stop the decline of Hollywood.
The voted law brings the budget devoted to these tax incentives to turn in California at $ 750 million (599.3 million Swiss francs) per year, against 330 million (263.7 million Swiss francs) before.
A boost eagerly awaited by Hollywood. Moreover, which has turned slowdown since the historic strikes of actors and writers who have paralyzed production in 2023.
Competition from tax incentives worldwide – California: state doubles its tax
The American cinema industry undergoes. among other things, the competition from multiple devices of tax incentives worldwide-United Kingdom, France, Hungary, Thailand, etc. – to attract filming of films and series.
“It is now time to put people back to work. bring production to California,” said the president of the entertainment unions, Rebecca Rhine, welcoming this law.
“We call on studios to renew their commitment to communities. workers from the whole state who built this industry,” she added in a statement.
Customs duties to films produced outside the United States
Some observers fear. however, that this measure is insufficient to straighten a sector in full depression.
In Los Angeles. the number of filming days reached a historic low in 2024 – if the complete frost caused by the pandemic in 2020 is excluded.
In May. US President Donald Trump had seized the subject by announcing that he wanted to impose customs duties california: state doubles its tax on films produced outside the United States.
Accentuate tax advantages for American audiovisual production
The idea had been welcomed freshly by most professional studios. unions, which had signed a common letter calling for rather accentuating tax advantages in favor of American audiovisual production.
California Democratic Governor Gavin Newsom even said he was ready to collaborate with. Donald Trump to set up a federal plan of $ 7.5 billion (5.9 billion Swiss francs) to support production throughout the country, in the form of tax credit.
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