California Proposes 35% Tax Credit for Animation to Boost Local Industry
California is set to enhance its appeal to the animation industry with a proposed 35% tax credit for animated features, series, and shorts. This initiative, part of a broader effort to revitalize the state's entertainment sector, was announced by state legislators and has been met with enthusiasm from local studios and animators.
The proposed bill, which aims to make California a more competitive location for animation production, would significantly increase the current tax incentives. According to reports from Kidscreen, Cartoon Brew, Variety, and the Los Angeles Times, the move is seen as a strategic response to the migration of animation projects to other states and countries offering more lucrative incentives.
The bill not only targets feature films but also extends to television series and short animations, aiming to foster a diverse range of content creation within the state. This expansion of the tax credit program is expected to encourage studios to invest more in local talent and infrastructure, potentially leading to job creation and economic growth in the region.
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