Gavin Newsom signs bill to create new film and TV tax credit in California
California Governor Gavin Newsom signed a bill creating a new tax credit specifically for post-production film and TV work to prevent industry job losses. The program offers a 35% to 50% credit on expenses, regardless of where the filming took place.
Why it matters
Highlights state-level efforts to maintain economic competitiveness in the entertainment industry amidst federal policy discussions.
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Add The California Post on Google Gov. Gavin Newsom is offering a multimillion-dollar tax break to Hollywood producers as California scrambles to keep entertainment jobs from fleeing the state.
The push comes after President Trump proposed a federal film incentive and as a bitter fight over whether Paramount could take its business elsewhere continues to play out.
Newsom signed Assembly Bill 2319 on Friday at the Television Academy in North Hollywood, creating California’s first standalone tax credit specifically for post-production work. The program will offer a 35% to 50% credit on qualified California expenses for picture editing, sound, music, visual effects and finishing.
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