Source: https://law.justia.com/codes/us/2018/title-26/subtitle-a/chapter-1/subchapter-b/part-vi/sec-181/
Timestamp: 2020-08-05 23:28:47
Document Index: 307503359

Matched Legal Cases: ['§ 181', '§ 181', '§181', '§244', '§403', '§502', '§744', '§317', '§129', '§169', '§40308', '§2', '§203', '§169', '§502', '§40308', '§169', '§129', '§317', '§744', '§502', '§244']

26 U.S.C. § 181 (2018) - Treatment of certain qualified film and television and live theatrical productions :: 2018 US Code :: US Codes and Statutes :: US Law :: Justia
Justia › US Law › US Codes and Statutes › US Code › 2018 US Code › Title 26 - Internal Revenue Code › Subtitle A - Income Taxes › Chapter 1 - Normal Taxes and Surtaxes › Subchapter B - Computation of Taxable Income › Part VI - Itemized Deductions for Individuals and Corporations › Sec. 181 - Treatment of certain qualified film and television and live theatrical productions
Sec. 181 - Treatment of certain qualified film and television and live theatrical productions
Citation 26 U.S.C. § 181 (2018)
Section Name §181. Treatment of certain qualified film and television and live theatrical productions
Section Text (a) Election to treat costs as expenses (1) In general
(2) Dollar limitation (A) In general
In the case of any qualified film or television production or any qualified live theatrical production the aggregate cost of which is significantly incurred in an area eligible for designation as—
(2) Production (A) In general
In the case of a television series—
In the case of multiple live staged productions—
(ii) which are—
(D) Seasonal productions (i) In general
(Added Pub. L. 108–357, title II, §244(a), Oct. 22, 2004, 118 Stat. 1445; amended Pub. L. 109–135, title IV, §403(e)(1), Dec. 21, 2005, 119 Stat. 2623; Pub. L. 110–343, div. C, title V, §502(a), (b), (d), Oct. 3, 2008, 122 Stat. 3876, 3877; Pub. L. 111–312, title VII, §744(a), Dec. 17, 2010, 124 Stat. 3319; Pub. L. 112–240, title III, §317(a), Jan. 2, 2013, 126 Stat. 2331; Pub. L. 113–295, div. A, title I, §129(a), Dec. 19, 2014, 128 Stat. 4018; Pub. L. 114–113, div. Q, title I, §169(a)–(b)(2), (c), Dec. 18, 2015, 129 Stat. 3067, 3068; Pub. L. 115–123, div. D, title I, §40308(a), Feb. 9, 2018, 132 Stat. 146.)
A prior section 181, Pub. L. 87–834, §2(c), Oct. 16, 1962, 76 Stat. 970, related to a deduction for unused investment credit, prior to repeal by Pub. L. 88–272, title II, §203(a)(3)(B), (4), Feb. 26, 1964, 78 Stat. 34, applicable in case of property placed in service after Dec. 31, 1963, with respect to taxable years ending after such date, and in case of property placed in service before Jan. 1, 1964, with respect to taxable years beginning after Dec. 31, 1963.
2018—Subsec. (g). Pub. L. 115–123 substituted "December 31, 2017" for "December 31, 2016".
2015—Pub. L. 114–113, §169(b)(2)(C), inserted "and live theatrical" after "film and television" in section catchline.
2014—Subsec. (f). Pub. L. 113–295 substituted "December 31, 2014" for "December 31, 2013".
2013—Subsec. (f). Pub. L. 112–240 substituted "December 31, 2013" for "December 31, 2011".
2010—Subsec. (f). Pub. L. 111–312 substituted "December 31, 2011" for "December 31, 2009".
2008—Subsec. (a)(2)(A). Pub. L. 110–343, §502(b), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: "Paragraph (1) shall not apply to any qualified film or television production the aggregate cost of which exceeds $15,000,000."
2005—Subsec. (d)(2). Pub. L. 109–135 struck out "For purposes of a television series, only the first 44 episodes of such series may be taken into account." at end of subpar. (A), added subpar. (B), and redesignated former subpar. (B) as (C).
Pub. L. 115–123, div. D, title I, §40308(b), Feb. 9, 2018, 132 Stat. 146, provided that: "The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2016."
Pub. L. 114–113, div. Q, title I, §169(d), Dec. 18, 2015, 129 Stat. 3069, provided that:
"(1) Extension.—The amendment made by subsection (a) [amending this section] shall apply to productions commencing after December 31, 2014.
"(2) Modifications.—
"(A) In general.—The amendments made by subsections (b) and (c) [amending this section] shall apply to productions commencing after December 31, 2015.
"(B) Commencement.—For purposes of subparagraph (A), the date on which a qualified live theatrical production commences is the date of the first public performance of such production for a paying audience."
Pub. L. 113–295, div. A, title I, §129(b), Dec. 19, 2014, 128 Stat. 4018, provided that: "The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2013."
Pub. L. 112–240, title III, §317(b), Jan. 2, 2013, 126 Stat. 2331, provided that: "The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2011."
Pub. L. 111–312, title VII, §744(b), Dec. 17, 2010, 124 Stat. 3319, provided that: "The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2009."
Pub. L. 110–343, div. C, title V, §502(e), Oct. 3, 2008, 122 Stat. 3877, provided that:
"(1) In general.—Except as otherwise provided in this subsection, the amendments made by this section [amending this section and section 199 of this title] shall apply to qualified film and television productions commencing after December 31, 2007.
"(2) Deduction.—The amendments made by subsection (c) [amending section 199 of this title] shall apply to taxable years beginning after December 31, 2007."
Pub. L. 108–357, title II, §244(c), Oct. 22, 2004, 118 Stat. 1447, provided that: "The amendments made by this section [enacting this section] shall apply to qualified film and television productions (as defined in section 181(d)(1) of the Internal Revenue Code of 1986, as added by this section) commencing after the date of the enactment of this Act [Oct. 22, 2004]."
Statutes at Large References 76 Stat. 970
118 Stat. 1445, 1447
119 Stat. 2623
122 Stat. 3876, 3877
126 Stat. 2331
129 Stat. 3067, 3069
132 Stat. 146
Public Law References Public Law 87-834, Public Law 88-272, Public Law 108-357, Public Law 109-135, Public Law 110-343, Public Law 111-312, Public Law 112-240, Public Law 113-295, Public Law 114-113, Public Law 115-123