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
A new statute signed into law by President Bush on October 6, 2006 has significantly strengthened the rights of companies to protect well-known brands against dilution. Trademark owners whose products are household names now have a very practical remedy when others use the same or similar mark, even if the alternative use is for a product or service that is completely unrelated to the well-known brand. This law will also affect businesses that are still developing their brands: when conducting their trademark searches, newcomers will have to consider the possibility that their proposed mark will dilute the distinctiveness of someone else’s famous brand.