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Tax Relief for Independent Music Creators: Immediate Deduction of Production Costs.

This law introduces new tax rules for the music industry, allowing independent artists and producers to immediately deduct up to $150,000 in sound recording production costs. This change aims to provide financial support to creators, improving their cash flow and encouraging music production within the United States. This helps smaller studios and artists recover invested money faster.
Key points
Artists can immediately deduct production costs (e.g., studio time, fees) instead of spreading them out over several years.
The limit for this immediate deduction is $150,000 per production annually.
The benefit applies only to sound recordings produced and recorded within the United States.
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Expired
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Additional Information
Print number: 117_HR_1945
Sponsor: Rep. Sánchez, Linda T. [D-CA-38]
Process start date: 2021-03-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

HITS Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1945.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-16.

What are the main provisions?

Key points include:

  • Artists can immediately deduct production costs (e.g., studio time, fees) instead of spreading them out over several years.
  • The limit for this immediate deduction is $150,000 per production annually.
  • The benefit applies only to sound recordings produced and recorded within the United States.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sánchez, Linda T. [D-CA-38].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes Media and Culture