Thriller Heist Feature Film
The leader of a band of hardened criminals is seduced by the tormented daughter of a murdered army captain. Sacrificing everything, they team up to retrieve the only piece of evidence left exposing the shocking truth about a government cover-up.
Director : Montee Ball Sr
Writers: Montee Ball Sr & Devaron Davis
Cinematography: Darius Hagens, Gary Myers, Desantis Cross
Section 181 states that investment in a motion picture film shot at least 75% in the US is 100% tax deductible for the investor in the year the film is “produced”.
Under Section 181 an investor may deduct the money which is invested in a film or television production from tax payer passive & active income earned. Investors can be either individuals or businesses. The max deduction limit per film project is $15,000,000. 360 Films enables our investment members to take advantage of this huge tax break. As quickly as cameras flash at the Oscars, Congress passed the Tax Cuts and Jobs Act (“TCJA“) and left taxpayers holding the bag in some areas. Unlike in the movies, taxpayers cannot do a reshoot if the first take is not perfect. After almost two years, Congress has passed additional legislation which resolves certain issues that have arisen in the film production industry.
On December 18, 2019, the House passed tax legislation as part of an omnibus package that included, among other things, extending Internal Revenue Code Section 181 (“Section 181“) retroactively from 2018 through 2020, which ultimately means that taxpayers may be able to elect Section 181 treatment for the 2019 and 2020 tax years. The 181 tax rule allows production companies to elect to deduct production expenses of certain qualified U.S. film/TV productions (and live theatrical productions) as and when incurred (subject to a $15m cap) in lieu of recovering such costs over a 10-year period. These tax deductions are passed on to 360 Film Fund investment members.
An investor contributes $500,000 to a SangRay nsdmc film in 2020. 100% of those funds are invested by SangRay in a motion picture film project in the same year. The investor had total taxable income of $400,000 in that year, both passive and active. After the $500,000 tax deduction directly to that investor, the investor’s taxable income for the year becomes a negative -$100,000, so there is zero tax liability for the investment member in that year. The excess negative tax liability is then applied to future tax years. At a federal income tax rate of 37%, the savings are substantial.