Newsom approves new CA TV tax credit

Governor Gavin Newsom has introduced a new tax credit to attract post-production work to California and combat its declining share of the industry, which has fallen from 53% to 42% over 13 years. The legislation offers a 35% to 50% credit on qualified California expenses for post-production activities, irrespective of where filming occurs. This initiative aims to preserve jobs amid industry shifts and increased competition from other states and federal incentives.

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