“Sherlock Holmes 3” Gets A $20M Tax Credit

Sherlock Holmes 3 Gets A 20m Tax Credit

The California State Film Commission have announced that ten projects that will film locally are conditionally approved to receive tax credits under the state’s $330 million program. Such credits effectively ensure all these projects will shoot very soon.

The biggest film of the new round of incentives is the third “Sherlock Holmes” feature starring Robert Downey Jr. and Jude Law reprising their roles as Holmes and Watson. That Warner Bros. Pictures project is receiving a $20.8 million tax credit all to itself and is expected to be the biggest spending production in the state under the program since “Captain Marvel”.

Others also getting some incentives include $9.6 million for a remake of “Little Shop of Horrors” and $7.5 million for the Will Smith-led biopic “King Richard” about the father of tennis champs Venus and Serena Williams, with both of those projects also at Warners. A fifth film in Universal’s “The Purge” franchise is getting $6.4 million, Atlas Entertainment’s “Janis” is getting $2.5 million, and direct to video title “American Pie Presents: Girls Rule” is getting $1.1 million.

Also getting approved for undisclosed amounts are the Russo brothers’ “Cherry” starring Tom Holland as a young war vet who becomes an opioid addict, “Macbeth,” “Pandora” and an untitled Atomic Monster project. To receive the credit, all of these projects have to begin production no later than mid-December.

Source: THR