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The Case for States to Offer Film-Tax Credits
[Editor's Note: The tax credits that states have made available to attract film and TV productions have presented a challenging, changing landscape to producers, as individual states add or eliminate these credits, or adjust tax credits amounts that producers can obtain. The recent enactment of revisions to California's tax credit provisions has raised additional questions for producers. This article by Thomas D. Selz considers film-and-TV tax credits on a national basis and concludes with comments on the new California revisions. The article by Schuyler M. Moore in this issue focuses on the California changes.]
On Aug. 20, 2014, North Carolina, which had provided incentive payments of $61 million in 2013, voted to eliminate the 25% refundable tax credit for film-production shooting in the state. North Carolina House Speaker Pro Tem, Paul Stam was quoted in The Wall Street Journal as asking, “Why in the world should we be giving tax money to make movies?” By contrast, on Sept. 18, 2014, California passed and signed into law an expansion of its tax incentive film program, raising the annual available tax credits from $100 million to $330 million.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.