Congress on July 3 passed Republicans' taxation-and-spending bill, including a broad package of tax benefits and revenue raisers that will affect virtually every business and individual in the country. The bill commonly known as the One Big Beautiful Bill Act (OBBBA) is one of the most significant pieces of federal tax legislation since the Tax Cuts and Jobs Act of 2017 (TCJA).
Learning Objectives
• Tax benefits and revenue raisers that will affect businesses and individuals
• Changes in federal tax legislation since the Tax Cuts and Jobs Act of 2017 (TCJA)
Major Topics
• Impacts of the OBBBA to Media and Entertainment companies
• State and Local Tax (SALT) considerations of the OBBBA
• Strategic tax planning opportunities, including a discussion around film tax credits and other incentives unique to the M&E industry
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