Quentin Tarantino’s New Film “The Movie Critic” Receives Tax Credits to Shoot in California
At least one major blockbuster project has been selected to receive tax credits for filming in California. The state’s film office recently announced that California’s Film & TV tax credit program will welcome a trio of feature films, including Quentin Tarantino’s highly anticipated film “The Movie Critic”, along with a roster of 13 independent films.
“The Movie Critic” is Tarantino’s final project and is listed as his 10th and final movie. Produced through L. Driver Productions, the film revolves around a cynical movie critic and is set in 1977 Southern California. Tarantino’s film is projected to generate a record-breaking $128.4 million in qualified spending, surpassing the previous record set by Lionsgate’s Michael Jackson biopic “Michael”.
“I love shooting in California,” Tarantino stated. “I started directing movies here and it is only fitting that I shoot my final motion picture in the cinema capital of the world.” Tarantino expressed his appreciation for the talented crews and amazing locations in his hometown.
In addition to “The Movie Critic”, Netflix has also received tax credits of $20 million for an untitled film. Lionsgate, which led the way in the previous round of incentives, received $21.1 million, while other major studios such as Warner Bros. have received similar tax credits in the past.
Combined, the three big-budget movies, including “The Movie Critic”, are estimated to generate $362 million in qualified spending and $540 million in total production spending in California. This marks a record for the state’s film and TV tax incentive program in terms of spending generated by large studio projects in a single round of tax credits.
The 16 projects selected in this round of tax credits are expected to bring a total production spending of $670 million, including $466 million in qualified expenditures. Additionally, they are set to employ an estimated 2,422 crew members, 851 cast members, and 23,427 actors and stand-ins throughout the entirety of production.
The news of these projects receiving tax credits comes at a time when production has been significantly reduced due to ongoing work stoppages. However, once the strikes are resolved, California officials anticipate a surge in production within the state.
California designates $330 million annually in credits for filming within the state. In June, legislators passed a bill that made the incentives refundable, allowing companies to receive a refund for a portion of their credits that exceed their tax liability. However, only Disney and NBCUniversal had tax liabilities in California to take full advantage of the program.
It is expected that projects will invoke the tax credit program’s force majeure provision, which pauses the 180-day start date requirement for principal photography, due to the current work stoppages. Tax credits will only be distributed once production is completed and all wages and expenses have been paid.
Apart from the major studio projects, the 13 independent films selected for tax credits are estimated to generate a combined $104 million in qualified spending. Many of these independent films have budgets of less than $10 million and include projects such as “Agent Plus”, “Boys Club”, “International Gangster”, and “Quadir’s Redemption”.
Yolanda Halley, president of parent company Faith Media, expressed her happiness in working with locals and taking advantage of all the amazing things California has to offer.
Overall, the tax credits awarded in this round of selections demonstrate California’s commitment to fostering a thriving film and TV industry within the state. The California Film Commission is looking forward to future applications for tax credits during the next application periods in January and September.