Tax
Jul. 31, 2026
A drafting ambiguity could cost Hollywood its tax credit boost
Following the approval of California's 2026-27 budget, dozens of legislators are urging Gov. Newsom to exempt the entertainment industry from new corporate tax credit limitations, arguing that the changes could undermine recent progress.
Gov. Gavin Newsom has emphasized his commitment to ensuring that filmed entertainment remains where it was born: here in California. "California has long set the standard for entertainment production, creating good-paying jobs and showcasing the creativity and innovation that define the Golden State," Newsom said, according to The Argonaut.
Accordingly, it was no surprise in July of this year when Newsom, who is serving his final term, more than ...
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