Tax Rebates Keep Industry In State

States like bringing jobs home.

That’s why South Carolina is considering upping its tax rebate for motion picture and television production.

SCFilmComm

The state has already brought in HBO and McClatchy notes that actor Danny McBride (star of Vice Principals and the coming “Righteous Gemstones”) moved his production company and home to SC.

Even though the 2017 Federal tax law permits an immediate write off of production costs upon exhibition, production companies love the tax rebates/credits that make it possible for them to hire locals and create a new industry in states where technology is usurping jobs.

Looking at how the North Carolina industry fled to Georgia when NC’s credits shrank, local production groups are hoping that the SC legislature will allow for up to $30 million in tax benefits for the coming year.

https://www.mcclatchydc.com/news/politics-government/congress/article233672382.html

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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