Editorial Notes
Prior Provisions

A prior section 181, Pub. L. 87–834, § 2(c), Oct. 16, 1962, 76 Stat. 970, related to a deduction for unused investment credit, prior to repeal by Pub. L. 88–272, title II, § 203(a)(3)(B), (4), Feb. 26, 1964, 78 Stat. 34, applicable in case of property placed in service after Dec. 31, 1963, with respect to taxable years ending after such date, and in case of property placed in service before Jan. 1, 1964, with respect to taxable years beginning after Dec. 31, 1963.

Amendments

2025—Pub. L. 119–21, § 70434(h)(1), amended section catchline generally. Prior to amendment, section catchline read as follows: “Treatment of certain qualified film and television and live theatrical productions”.

Subsec. (a)(1). Pub. L. 119–21, § 70434(a), substituted “qualified film or television production, any qualified live theatrical production, and any qualified sound recording production” for “qualified film or television production, and any qualified live theatrical production,”.

Subsec. (a)(2)(C). Pub. L. 119–21, § 70434(b), added subpar. (C).

Subsec. (b). Pub. L. 119–21, § 70434(c), substituted “qualified film or television production, any qualified live theatrical production, or any qualified sound recording production” for “qualified film or television production or any qualified live theatrical production”.

Subsec. (c)(1). Pub. L. 119–21, § 70434(d), substituted “qualified film or television production, any qualified live theatrical production, or any qualified sound recording production” for “qualified film or television production or any qualified live theatrical production”.

Subsecs. (f), (g). Pub. L. 119–21, § 70434(e), added subsec. (f) and redesignated former subsec. (f) as (g). Former subsec. (g) redesignated (h).

Subsec. (h). Pub. L. 119–21, § 70434(f), substituted “qualified film and television productions, qualified live theatrical productions, or qualified sound recording productions” for “qualified film and television productions or qualified live theatrical productions”.

Pub. L. 119–21, § 70434(e), redesignated subsec. (g) as (h).

2020—Subsec. (g). Pub. L. 116–260 substituted “December 31, 2025” for “December 31, 2020”.

2019—Subsec. (g). Pub. L. 116–94 substituted “December 31, 2020” for “December 31, 2017”.

2018—Subsec. (g). Pub. L. 115–123 substituted “December 31, 2017” for “December 31, 2016”.

2015—Pub. L. 114–113, § 169(b)(2)(C), inserted “and live theatrical” after “film and television” in section catchline.

Subsec. (a)(1). Pub. L. 114–113, § 169(b)(1), inserted “, and any qualified live theatrical production,” after “any qualified film or television production”.

Subsecs. (a)(2)(A), (B), (b), (c)(1). Pub. L. 114–113, § 169(b)(2)(A), inserted “or any qualified live theatrical production” after “qualified film or television production”.

Subsec. (e). Pub. L. 114–113, § 169(c)(2), added subsec. (e). Former subsec. (e) redesignated (f).

Subsec. (f). Pub. L. 114–113, § 169(c)(1), redesignated subsec. (e) as (f). Former subsec. (f) redesignated (g).

Pub. L. 114–113, § 169(b)(2)(B), which directed insertion of “or qualified live theatrical productions” after “qualified film or television productions”, was executed by making the insertion after “qualified film and television productions”, to reflect the probable intent of Congress.

Pub. L. 114–113, § 169(a), substituted “December 31, 2016” for “December 31, 2014”.

Subsec. (g). Pub. L. 114–113, § 169(c)(1), redesignated subsec. (f) as (g).

2014—Subsec. (f). Pub. L. 113–295 substituted “December 31, 2014” for “December 31, 2013”.

2013—Subsec. (f). Pub. L. 112–240 substituted “December 31, 2013” for “December 31, 2011”.

2010—Subsec. (f). Pub. L. 111–312 substituted “December 31, 2011” for “December 31, 2009”.

2008—Subsec. (a)(2)(A). Pub. L. 110–343, § 502(b), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “Paragraph (1) shall not apply to any qualified film or television production the aggregate cost of which exceeds $15,000,000.”

Subsec. (d)(3)(A). Pub. L. 110–343, § 502(d), substituted “actors, production personnel, directors, and producers.” for “actors, directors, producers, and other relevant production personnel.”

Subsec. (f). Pub. L. 110–343, § 502(a), substituted “December 31, 2009” for “December 31, 2008”.

2005—Subsec. (d)(2). Pub. L. 109–135 struck out “For purposes of a television series, only the first 44 episodes of such series may be taken into account.” at end of subpar. (A), added subpar. (B), and redesignated former subpar. (B) as (C).

Statutory Notes and Related Subsidiaries
Effective Date of 2025 Amendment

Amendment by Pub. L. 119–21 applicable to productions commencing in taxable years ending after July 4, 2025, see section 70434(i) of Pub. L. 119–21, set out as a note under section 168 of this title.

Effective Date of 2020 Amendment

Pub. L. 116–260, div. EE, title I, § 116(b), Dec. 27, 2020, 134 Stat. 3051, provided that: “The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2020.”

Effective Date of 2019 Amendment

Pub. L. 116–94, div. Q, title I, § 117(b), Dec. 20, 2019, 133 Stat. 3229, provided that: “The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2017.”

Effective Date of 2018 Amendment

Pub. L. 115–123, div. D, title I, § 40308(b), Feb. 9, 2018, 132 Stat. 146, provided that: “The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2016.”

Effective Date of 2015 Amendment

Pub. L. 114–113, div. Q, title I, § 169(d), Dec. 18, 2015, 129 Stat. 3069, provided that:

“(1)
Extension.—
The amendment made by subsection (a) [amending this section] shall apply to productions commencing after December 31, 2014.
“(2)
Modifications.—
“(A)
In general.—
The amendments made by subsections (b) and (c) [amending this section] shall apply to productions commencing after December 31, 2015.
“(B)
Commencement.—
For purposes of subparagraph (A), the date on which a qualified live theatrical production commences is the date of the first public performance of such production for a paying audience.”

Effective Date of 2014 Amendment

Pub. L. 113–295, div. A, title I, § 129(b), Dec. 19, 2014, 128 Stat. 4018, provided that: “The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2013.”

Effective Date of 2013 Amendment

Pub. L. 112–240, title III, § 317(b), Jan. 2, 2013, 126 Stat. 2331, provided that: “The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2011.”

Effective Date of 2010 Amendment

Pub. L. 111–312, title VII, § 744(b), Dec. 17, 2010, 124 Stat. 3319, provided that: “The amendment made by this section [amending this section] shall apply to productions commencing after December 31, 2009.”

Effective Date of 2008 Amendment

Pub. L. 110–343, div. C, title V, § 502(e), Oct. 3, 2008, 122 Stat. 3877, provided that:

“(1)
In general.—
Except as otherwise provided in this subsection, the amendments made by this section [amending this section and section 199 of this title] shall apply to qualified film and television productions commencing after December 31, 2007.
“(2)
Deduction.—
The amendments made by subsection (c) [amending section 199 of this title] shall apply to taxable years beginning after December 31, 2007.”

Effective Date of 2005 Amendment

Amendment by Pub. L. 109–135 effective as if included in the provision of the American Jobs Creation Act of 2004, Pub. L. 108–357, to which such amendment relates, see section 403(nn) of Pub. L. 109–135, set out as a note under section 26 of this title.

Effective Date

Pub. L. 108–357, title II, § 244(c), Oct. 22, 2004, 118 Stat. 1447, provided that: “The amendments made by this section [enacting this section] shall apply to qualified film and television productions (as defined in section 181(d)(1) of the Internal Revenue Code of 1986, as added by this section) commencing after the date of the enactment of this Act [Oct. 22, 2004].”