Hollywood asks for tax incentives from Trump after 100% tariffs on films

Quick Summary:

Citing experts, the report added that they warn of a dramatic hike in the cost of making movies, once this tariff is implemented.

It further called for changes in the Internal Revenue Code of Sections 199, 181, and 461, that the signatories believed would make America more competitive.

Under Section 199 of the Internal Revenue Code, deductions are provided for the manufacturing of TV and film productions.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Trump film tariffs Hollywood tax incentives American media industry Trump Truth Social Section 181 Sylvester Stallone Foreign film tariff Jon Voight Hollywood lobbying US film production Section 461 Section 199 IRS

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-13 @ 10:13:31 (10 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 386 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 28660363

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Main Topics: BusinessFinance

Official Website: business-standard.com

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Year Established: 1975

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News Last Updated: 2 hours ago

Coverage Areas: India

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