Seinfeld’s history of Pop-Tarts among movies to get state film tax credits
Jerry Seinfeld’s movie about the creation of the Pop-Tart is among 30 movies in line to receive California state tax credits, committing to spend about $1.2 billion in Los Angeles and statewide.
The California Film Commission revealed the latest round of film projects for the state’s $330-million annual incentive plan, which includes “Unfrosted,†directed and written by and starring Seinfeld for Netflix, “Beverly Hills Cop 4†and another Netflix production, “Atlas.â€
The Los Gatos streaming giant’s films account for over $50 million of the tax credits, with the Jennifer Lopez movie “Atlas†receiving the biggest tax break at $20.5 million. Amazon Studios and Warner Bros. productions were among the other beneficiaries.
“We are so happy to get the California tax credit which enables us to make our whole movie there,†Seinfeld said. “Having made all of the ‘Seinfeld’ series in L.A., I very much wanted to come back and shoot there again.â€
The latest round will cost the state about $149 million and comes after the legislators approved an increase to the tax credit program to incentivize building more infrastructure.
The current program, which runs through 2025, allows filmmakers to recoup 20% to 25% of spending on qualified costs, such as money spent building sets and hiring crews. Producers use the credits to offset state taxes.
“We’re leveling the playing field for the types of big-budget films targeted so aggressively by jurisdictions with more sweeping incentive programs,†California Film Commission Executive Director Colleen Bell said in a statement. “Filmmakers want to work here in the Golden State and understand that chasing the highest incentive doesn’t ensure the best value.â€
The films include 11 studio movies — four of them big-budget projects — and 19 independent films. The commission said that around 30% of the shoot days will be spread outside of Los Angeles in other parts of the state.
The commission estimated the $1.17 billion in combined production spending the films will bring to the state includes $774 million in wages for below-the-line workers and payments to in-state vendors.
The 30 projects will employ an estimated 4,564 crew, 1,212 cast and 48,646 background actors and stand-ins, the commission said.
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