Providence Film Group, a Valiant Eagle Inc. subsidiary, is pleased to announce its plan to incorporate Section 181 financing in its film finance model. FOR IMMEDIATE RELEASE / PRURGENT
The new Section 181 Deduction under the Tax Cuts and Jobs Act of 2018 (TCJA) creates a 100% deduction for any money invested in a film, television series, or live stage production that is produced in the United States and that qualifies under the original qualification standards of Section 181. It means that for every $1.00 that a high net worth investor invests in a film or television series, the investor can write off 37 cents from that investor’s tax return. This is a tremendous incentive to invest in a film, television or stage production, when more than a third of the investment can be written off.
The new version of the Section 181 Tax Deduction can be taken when a producer sets up a qualifying securities offering, in which the private placement memorandum (PPM) and other provisions of the securities offering have been drafted to incorporate the new depreciation rules found in the 2018 TCJA version of the Section 181 Deduction.
Providence Film Group LLC’s CEO, Xavier Mitchell, explains, “When it expired at the end of 2016, a lot of experts assumed it would never return. Now a new tax provision emerged that does the same thing, and it specifically references the original text of the Section 181 Tax Deduction, even though that deduction has expired.”
The new Section 181 Tax Deduction under the Tax Cuts and Jobs Act applies to any investor that is subject to United States federal income tax.
About Providence Film Group
Providence Films is a Los Angeles based entertainment studio whose industry offering’s service the multi-billion dollar motion picture, television and music industries. Providence Films foci consist of motion picture production, television production, home video acquisition and distribution, and the development of new entertainment opportunities in an innovative and targeted style.
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