Special Expensing for Qualified Sound Recording Productions (Section 70434)

Illinois — state programup to $150,000 aggregate qualified sound recording production cost per tax year (under IRC § 181 expensing)

Expands special expensing rules under IRC § 181 to include qualified sound recording productions (produced and recorded in the United States) for productions commencing before January 1, 2026, in tax years ending after July 4, 2025. Also expands qualified property eligible for additional first-year depreciation under IRC § 168(k) to include qualified sound recording productions for productions commencing in tax years ending July 4, 2025.

Program details

Type: tax-credit
Amount: up to $150,000 aggregate qualified sound recording production cost per tax year (under IRC § 181 expensing)
Eligibility: Taxpayers with qualified sound recording productions (as defined in 17 U.S.C. § 101) produced and recorded in the United States; productions commencing before January 1, 2026 in tax years ending after July 4, 2025
Status: open
Administrator: IRS
More Info: https://www.irs.gov/newsroom/one-big-beautiful-bill-provisions

Source: Illinois — state program. Confirm current terms with the administering agency before applying.

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