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Section 181 of the Internal Revenue Code (IRC) was first introduced in 2004 and, with some gaps in time, lasted through its expiration at the end of 2016. It has provided benefits to both producers of movies and television programs (and, for a shorter period of time, to producers of live stage productions) and — under pass-through legal structures such as limited liability companies — to their investors. Now, with the enactment at the end of 2017 of the sweeping new federal tax law, commonly referred to as the Tax Cuts and Jobs Act (the Jobs Act), §181 has been given new life, with a couple of additional benefits and a couple of additional twists.
Ultra Music Festival Disputes Result in Decisions Within Days of Each Other
By Stan Soocher
Only days after winning dismissal of an anti-trust lawsuit over its 2019 move to a new location in Miami, FL, for the Ultra Music Festival, Worldwide Entertainment lost its bid to reopen a court case over use of the “Ultra Music” brand for a festival overseas.
High Court’s View of ‘Full Costs’ in Copyright Litigation
By Scott Graham
A unanimous U.S. Supreme Court, led by Justice Brett Kavanaugh, held that the phrase “full costs” in §505 of the Copyright Act means all of the costs specifically enumerated in the general cost-shifting statutes, such as transcripts and fees for court-appointed experts and interpreters.
U.S. Supreme Court’s Ruling on Copyright Registration
By Robert J. Bernstein and Robert W. Clarida
The Supreme Court had granted cert in Fourth Estate to resolve a split in the federal circuit courts as to whether §411(a) of the Copyright Act could be read to allow commencement of an infringement action once a registration application filed with the Copyright Office is complete (the “application approach”) or, instead, only (subject to limited statutorily specified exceptions) upon issuance by the Copyright Office of the registration (the “registration approach”).
U.S. Studios Agree to End Geoblocking in Europe Union
By Simon Taylor
Under the agreement, the studios and Sky UK will open up pay-TV markets, allowing consumers across the European Union to access to a wider range of content regardless of their location.
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