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Did California Just Undercut Its Hollywood Tax Credit?
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Subscribe15 JUL 2026 / IRS UPDATES
California Governor Gavin Newsom's recently signed budget may undermine the state's TV and film production incentive program, causing concerns for many industry insiders. The budget includes a business tax credit cap of $5 million yearly, which also applies to the film and TV incentive program and potentially limits the amount of credits these companies can use yearly, reducing their overall value and possibly leading to their consideration as deferred receivables instead of incentives.
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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