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Netflix Claims $20 Million in California Subsidy for Untitled Project
Netflix will get a $20 million tax subsidy to produce an untitled film in California, as the state prepares for significant changes in the program.
Netflix is expected to be one of the biggest beneficiaries of the change, as it generates far more tax credits in California than it can use. The Motion Picture Association, which lobbies on behalf of the studios, recently pushed for tax credits to be transferable — meaning they could be sold to other taxpayers for instant cash — but that was not included in legislation reforming the program. The MPA has also sought to include “above the line” salaries among eligible expenses, but that has likewise been excluded.
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