Legislation passed by Congress on Tuesday, to avert a fiscal cliff, includes the extension of a tax provision that is designed to boost U.S. film and TV production.
The provision allows producers to immediately deduct the first $15 million of production costs if 75% occurs in the U.S., allowing investors the option of writing off expenses in the year it occurs. The provision has been extended until December 31, 2013.
For more on this provision, read an article by Ted Johnson of Variety.
2012 was another record breaking year for the North Carolina Film Industry. The NC Film Office says year end projections show productions had a direct in-state spend in excess of $376 million and created more than 4,100 crew positions for the state’s highly skilled workforce. Productions created nearly 20,000 job opportunities—including talent and background extra positions– for North Carolinians. These numbers are well above last year’s record breaking $220 million in spending and 3,300 crew positions. For more news articles on NC’s film industry 2012 in-state spends, click on the links to news stories below.
NC Film Office
NBC 17 article
Whether you’re a musician, filmmaker, painter, game developer, actor, or gallery owner, sooner or later you will be asked to sign a contract. If you are serious about your art (as art and as business), you will take a serious approach to understanding, negotiating and performing the contracts that are presented to you. Here’s a list of 10 things you should consider when someone hands you a contract.