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Streamline Global Group Film Launches With Federal Tax Incentive Credit (Exclusive)

6 March 2017 8:36 AM, PST | Variety - Film News | See recent Variety - Film News news »

The expired federal production tax incentive — known as Section 181 of the Internal Revenue Code — remains alive, thanks partly to the efforts of veteran financier Emily Hunter Salveson.

She’s launched Streamline Global Group Film with a dozen projects made up exclusively of movies grandfathered under IRC 181. That provision allows producers to deduct up to $15 million of the expenses from movies and TV shows in the year that production starts, rather than having waiting until a project is released.

None of the 12 films are completed, but they qualify for the tax credit — which was not renewed by the U.S. Congress at the start of 2017 — because some production has already taken place. The provision, enacted in 2004 as part of the American Jobs Creation Act, was designed to stem the flow of runaway production to foreign countries offering tax breaks to lure away American productions.

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