Chairman Senator Orrin Hatch mediates the markup of the Senate Tax Bill. (Photo by Melina Mara/The Washington Post via Getty Images)
A provision in the proposed U.S. Senate tax bill would allow “qualified theatrical productions” to expense all of their initial production costs and allow investors to write off their investment once the show has its first performance. The provision, which added film, television and theatrical productions to the accelerated bonus depreciation section of the tax bill, extends what had been available to producers and investors under Section 181 of the Internal Revenue Code. However, the provision is not assured, as the tax reform bill passed by the U.S. House of Representatives did not include this kind of theatrical tax break…

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