← All states
Qualified Sound Recording Productions Expensing (Section 70434)
Illinois — state programup to $150,000 per tax year
Expands special expensing rules under IRC Section 181 to include qualified sound recording productions produced and recorded in the United States, up to $150,000 per tax year. For productions commencing in tax years ending July 4, 2025, qualified sound recording productions are also eligible for additional first-year depreciation under IRC Section 168(k).
Program details
- Type
- tax-credit
- Amount
- up to $150,000 per tax year
- Eligibility
- Productions commencing before January 1, 2026, in tax years ending after July 4, 2025. A qualified sound recording production is a sound recording as defined in 17 U.S.C. section 101 that is produced and recorded in the United States.
- Status
- open
- Administrator
- IRS
Source: Illinois — state program. Confirm current terms with the administering agency before applying.