Section 181 – Passed for 2013 – How it Works For Financing
January 2, 2013 Leave a comment
The “Fiscal Cliff” bill passage which occurred in the early hours of New Years Day (2013) contains an extension of the IRS code Section 181 (Deductions for Qualified Film & Television Production Costs) through the end of 2013.
In an earlier blog I gave a very layman’s explanation of how Section 181 works for you as a producer trying to raise financing – i.e. pitching those who have the right kind of “passive income” to use Section 181 for a tax write off.
You can see the blog here: https://filmproduction.wordpress.com/2011/01/06/pitching-section-181-rough-outline-of-how-it-works/
The DGA and the IFTA put together a good brochure – you can see it at this link http://www.film.ca.gov/res/docs/pdf/Section-181-12-4-08.pdf
I have had several requests about this, so I know a lot of you are looking forward to making use of it in your pitching to prospective financiers.
Cheers / John