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Q: Tax law for private investors of film ( No Answer,   0 Comments )
Question  
Subject: Tax law for private investors of film
Category: Arts and Entertainment
Asked by: thump74-ga
List Price: $20.00
Posted: 20 Jun 2005 12:09 PDT
Expires: 20 Jul 2005 12:09 PDT
Question ID: 535174
There was a new TAX law passed in October 2004 providing tax deductions for
private investors of independent films that are produced, and filmed in the
United States. I'm looking for the complete translation to this tax law.

Request for Question Clarification by pinkfreud-ga on 21 Jun 2005 20:42 PDT
I believe this is the law to which you refer:

"The American Jobs Creation Act of 2004 creates an extraordinary new
tax incentive for film producers who make low- and medium budget films
(under $15.0 or $20.0 million) in the U.S.  The new law allows
producers of qualifying films to elect out of the uniform
capitalization rules which mandate that film costs be deducted
gradually over a film?s useful life or be matched to a film?s
projected income.  Costs of qualifying films can now be deducted in
full in the year they are incurred.  The purpose of the new tax law is
to stimulate investment in domestic film production operations and
make domestic film production more competitive with foreign production
options."

http://www.cfoyesq.com/ARTICLE%20DRAFT%201.0.htm

Here is the American Jobs Creation Act in its entirety:

http://www.howardsoft.com/hr4520.pdf

You say you need "the complete translation." What language do you need
this translated into? This is a 650-page document, so the translation
will be very time-consuming.
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