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Did California Just Undercut Its Hollywood Tax Credit?
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Subscribe15 JUL 2026 / IRS UPDATES
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California's new $5 million annual limit on business tax credits, signed into law by Gov. Gavin Newsom, may weaken the state's own film and television production incentive program, putting industry jobs and local businesses at risk. State officials, who expect the cap to save billions in the next fiscal year, face criticism from lawmakers arguing the limit could discourage production companies from shooting in California due to the delayed financial benefit and increased risk.
California spent years telling studios, crews, vendors, and local businesses that it wanted production back. Then the state signed a budget provision that may make its own incentive program far less valuable. That is the kind of plot twist Hollywood usual...
Until next time…
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