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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.
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By Stan Soocher
A question of law arose for a District Judge when a songwriter sued YouTube, claiming she never approved licensing her works to YouTube — whether the administration agreement’s notice-and-consent clause was a condition precedent to the administrator’s ability to license the songwriter's songs.
Tax Issues In Charitable NIL Collectives In College Sports
By Todd Kesterson and Alyssa R. Wan
With a growing number of donor groups forming Name Image and Likeness collectives as not-for-profit entities, there are questions about whether or not these collectives truly qualify as charitable organizations for tax purposes.
NY Court Strips Major Claims from Lil Wayne’s Suit Against Lawyer
By Jason Grant
A New York State appellate court knocked out major claims from prominent rapper Lil Wayne’s $20 million lawsuit against Ronald Sweeney, his former attorney and representative of 13 years, including causes of action for fraudulent inducement, legal malpractice, breach of fiduciary duty and unjust enrichment.
Online Extra: Live Nation Taps Prominent Antitrust Attorney Ahead of Congressional Showdown
By Chris O’Malley
Girding itself for scrutiny by Congress and regulators over anti-competitive concerns, Live Nation Entertainment has retained prominent antitrust attorney-turned-lobbyist Seth Bloom.
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