Broadway to get tax breaks
Broadway to get tax breaks
#1Broadway to get tax breaks
Posted: 12/17/15 at 10:23pm
Surprised no one has said anything yet.
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#2Broadway to get tax breaks
Posted: 12/18/15 at 2:34pm
This is actually huge. I'm shocked this isn't a bigger deal here. This will provide a far greater incentive for investments in theatre since it severely limits the downside risk of investors who won't owe taxes on the income until the show makes its money back. It means investors will get their money back more quickly and will be more apt to invest in theatre.
The biggest benefit I see would really accrue to regional theatres and off-Broadway. Since Broadway's theatres are rarely dormant for long periods of time for want of a new show, I doubt this will mean a massive influx to Broadway. Instead it's likely to mean riskier projects off-Broadway and throughout the country that were having trouble securing financing to mount will have the scales tipped in their favor. A good day for theatre!
Scratch and claw for every day you're worth!
Make them drag you screaming from life, keep dreaming
You'll live forever here on earth.
MarkBearSF
Broadway Legend Joined: 1/25/11
#3"Hollywood accounting"
Posted: 12/18/15 at 11:13pm
Curious about the effect it may have on recoupment announcements. It seems the stories of people never receiving payments from huge hit movies that somehow never make a profit due to "Hollywood accounting" are legion. If the tax doesn't come due until recoupment, might it be advantageous to delay that as long as possible?
Not that Broadway bookkeeping is a necessarily paragon of transparent honesty (as the stories go).
As a member of the audience and not an investor, if the law improves my choices in the theaters (while taking care of the cast, crew and creatives), I'm happy for it.
Updated On: 12/18/15 at 11:13 PM
#4"Hollywood accounting"
Posted: 12/19/15 at 1:43am
"Curious about the effect it may have on recoupment announcements. It seems the stories of people never receiving payments from huge hit movies that somehow never make a profit due to "Hollywood accounting" are legion. If the tax doesn't come due until recoupment, might it be advantageous to delay that as long as possible?"
Yup, you're 100% right about that. It wouldn't shock me if we see more of that.
Scratch and claw for every day you're worth!
Make them drag you screaming from life, keep dreaming
You'll live forever here on earth.
