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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.
Obviously North Carolina and California have different answers to the film-tax credit issue. Are state-production tax incentives a giveaway of taxpayer money or do they help the economies of the states offering the credits?
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.