Michael Donaldson Speaks to Daily Journal about the Impacts of Gov. Newsom’s Proposal to Increase California’s Film Tax Credit
Michael Donaldson recently spoke to the Daily Journal about California Governor Gavin Newsom’s proposal to significantly increase the state’s annual Film & Television Tax Credit Program. Michael explains that while the proposal should minimize the recent migration of film and television productions to other states and out of the country, it is unlikely to have a large impact on entertainment attorneys.
“The impact on the lawyers is somewhat minimal. In my view it’s non-existent,” he says.
Michael continues to tell the Daily Journal that despite many production companies choosing to work in states like Georgia due to their generous film tax credit schemes, he has not experienced the loss of these clients to out-of-state lawyers because of the valuable and long-standing relationship between filmmakers and attorneys.
“They’re based in L.A., they have a relationship with a lawyer – they want confidence in the contract, confidence in the terms, they want somebody who can deliver both,” he adds.