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EDD Says It Is “Not Taking Action To Ban” Loan Out Corporations In California After Hollywood Guilds Sound Alarm
The EDD insists it will not ban loan out corporations in California after the Hollywood guilds raised alarm
The California Employment Development Department has insisted that loan out corporations will not be prohibited in the state, after entertainment payroll agencies raised alarm over the weekend. As Deadline previously reported, IATSE and several of the other Hollywood guilds issued memos to their members warning that the use of loan out corporations may no longer be permitted within the entertainment sector, following an audit from payroll agency Cast & Crew. The statement did not clarify why Cast & Crew, as well as other payroll agencies that service the entertainment industry, had received directive that the EDD would no longer be accepting loan out corporations, if that is not the case.
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