The Internal Revenue Service has issued final regulations for tax deductions on domestic film productions, while revising the definition of the types of films that qualify for the deduction.
The deduction is for income attributable to domestic production activities under Section 199 of the Tax Code. The final regulations revise some of the rules and examples relating to the definitions of a qualified film and affect taxpayers who produce qualified films and taxpayers who are members of expanded affiliated groups.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access