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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.
By Robert M. Jason
The tax reform bill signed by President Trump at the end of 2017 has caused us to take a fresh look at many long-held assumptions about how to take into account income taxes in planning for the entertainment industry. At the same time, the California Supreme Court recently decided a case that has the potential to eviscerate loan-out corporations entirely. This article discusses loan-out corporations in light of these two important developments.
By Kelly L. Frey Sr.
While thousands of films are made each year in the United States and Canada, less than 800 were theatrically released in 2017, with many exceptional films failing to obtain commercial distribution because of legal issues.
By Stan Soocher
Jerry Lee Lewis Gets Extended Discovery Time in Management Litigation Against His Daughter
Three-Year Statute of Limitations Argument Doesn’t Bar Claims to Copyright Renewal Terms
Ticketmaster Prevails With “Striking Compatibility” Claim in Copyright Suit Over Ticket Bots
By Scott D. Locke and Laura-Michelle Horgan
Broadcasters around the globe know that Americans want access to digital content and that they often ignore who provides it to them. For business reasons, tax reasons or to try to avoid liability under copyright law, many of these broadcasters intentionally do not set up operations in the United States. However, when these broadcasters transmit content for which they do not have authorization, they may be in violation of the copyright holder’s rights.