Archive for July 2009

Sexy Tax: Tax Issues for Foreign Investors in U.S. Films

July 28th, 2009 | Posted in: Entertainment + Film Finance, Tax Issues | 0 Comments

Marsha Dungog published an article in the July-August 2009 of Los Angeles Lawyer addressing tax issues for foreign investors in U.S. films. A copy of the article can be found at http://www.lacba.org/Files/LAL/Vol32No5/2614.pdf.

It is very sexy.

“SEVERAL FEDERAL TAX ISSUES arise in film production financing deals
with foreign investors. The foreign investors may be interested in a
screenplay that could be produced in the United States on a relatively
small budget but has the potential to attract A-list actors and actresses for the leading roles. To finance production for the film, from the development stage through post-production, the producer and the foreign investors typically enter into a joint venture by forming a limited liability company (LLC) in Delaware. If all goes well, they may use the
same LLC to invest in future films with box office potential.”

Sustainable Development: Removing the Roadblocks

July 27th, 2009 | Posted in: Affordable Housing, Community Development + Public Finance, Real Estate | 0 Comments

Sustainable Development, typified by walkable communities that consume less open space and requires less driving, with a focus on urban infill and revitalization of existing communities to reduce development impact.

The Top Five Roadblocks to Sustainable Development:

1) Inadequate infrastructure, such as a lack of public transit, insufficient or aging utilities, and underperforming schools in city centers and other areas that are prime locations for sustainable development.
2) An uncertain regulatory process resulting from myriad local government requirements, planning and zoning restrictions, fire and other code limitations, extensive project-specific environmental review processes, and local opposition (“no growth” advocates and unhappy neighbors).
3) Higher economic costs to build in existing neighborhoods resulting from a typically more expensive construction process, longer permitting time, and additional infrastructure burdens that make sustainable development less economically competitive than constructing in undeveloped areas.

4) Fiscalization of land use that encourages local governments to permit large single-use, auto-oriented retail buildings to maximize sales tax revenue and minimize infrastructure costs, rather than mixed-use development.

5) Laws and regulations that prevent wider use of renewable energy and innovative water conservation systems, as well as the high up-front costs of installing energy efficiency and renewable energy systems on existing buildings.

Hobson Dungog LLP – The New Black

July 27th, 2009 | Posted in: Corporate Matters | 0 Comments

Hobson Dungog LLP’s website and Blog are officially launched as of August 1, 2009. We will routinely post articles and address issues of concern for the industries in which our clients are engaged.