Monday, January 31, 2005

Film Updates; British Columbia Incentives

January 31, 2005

In this newsletter:


Congratulations to our client, writer/director Craig Brewer. His film, "Hustle & Flow," won the American Dramatic Audience Award at the Sundance Film Festival. Winners were announced yesterday at the Park City Racquet Club. The film sold to Paramount for $9 million earlier in the week.

"Hustle & Flow" is the story of a Memphis pimp who wants to be a rap star. The picture stars Terrence Dashon Howard, DJ Qualls, Ludacris, and Taryn Manning. The film should be in theaters this summer.

Congratulations to our client, writer/director Richard Shepard. Miramax bought distribution rights to his film, “The Matador,” for $7.5 million at Sundance.

“The Matador” is a quirky thriller that stars Pierce Brosnan as a lonely hitman and his friendship with an unsuspecting couple from suburbia played by Greg Kinnear and Hope Davis.

Congratulations to our clients Art Klein, executive producer, and Eileen Craft, producer of “Marilyn Hotchkiss Ballroom Dancing and Charm School.” Their film received a standing ovation from the Sundance audience after its world premiere screening and got a thumbs-up review from Ain’t It Cool News. “Marilyn Hotchkiss” tells the tale of a widower whose life is changed when he goes to search for a dying man’s lost love. The film stars Robert Carlyle, Marisa Tomei, Mary Steenburgen, Sean Astin, Donnie Wahlberg, David Paymer, Camryn Manheim, Adam Arkin, Sonia Braga, Elden Henson, Ernie Hudson, Miguel Sandoval, Danny DeVito, John Goodman.

Click here for the review.

In response to the new TV and film production incentives announced by Ontario and Quebec provinces, British Columbia has introduced legislation to step up its own tax incentive plan. The new incentives, which will be introduced to the provincial legislature in February, will increase the foreign production service tax credit to 18 percent, and raise the domestic tax credit to 30 percent.If ratified, the increases will take effect Jan. 1, 2005, and continue until Mar. 31, 2006. The move is seen as an attempt to keep productions from heading to the eastern provinces.

Click here for B.C.'s current film and television incentives.

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DISCLAIMER: While we are careful in preparing this newsletter, readers should consult with a lawyer before relying on any information. Case law and statutes are subject to change, and may not apply in all jurisdictions.

Copyright 2005, Mark Litwak