New L.A. film incentive

The entertainment industry was offered a new incentive to remain in Los Angeles on Tuesday, as the City Council reduced city taxes on local filming that could save small productions more than $12,000 each.Daily News.

The council increased the Entertainment Adjustment Cap from $2.5 million to $5 million. The figure represents the amount a production can cost to be required to pay a flat tax of only $145, rather than paying on a sliding scale that could reach up to $12,495 under the old tax. But the council also reduced that cap to $9,245 for productions that cost more than $5 million.