State Lawmakers Considering Tax Break For Music Industry
The Ohio House is considering a bill giving a 25 percent tax credit to musicians who use Ohio recording studios for projects costing more than 10 thousand dollars. The bill caps the amount of credits at 1 million dollars, with a per-project cap of 75 thousand dollars. Co-sponsoring Democratic State Representative Kent Smith says the state has a wealth of musical assets.
Smith says the legislation would give music producers public subsidies similar to the ones movie makers get through Ohio's Motion Picture Tax Credit.
Smith says this version of the bill is different from one that failed to pass in 2015 because it has a lower cap and more sponsors.