California taxpayers will help underwrite the “Michael” sequel from Lionsgate, with $30.8 million in state tax incentives going toward the production.
\n\n“Michael 2” is one of 35 films that will receive $226 million tax incentives in total in the latest round of approvals from the California Film Commission.
\n\nThe original “Michael” also received state support, taking $21 million in credits, before going on to reap more than $1 billion at the box office. California’s tax credit has become more generous since the first film was made, and will provide 35% of qualified costs compared to 17.5% for the original.
\n\nWarner Bros. and Paramount — now divisions of Skydance — will also collect state funding of $13 million and $29.3 million, respectively, for untitled films. New Line Cinema will collect $11.4 million for its upcoming “Friday” sequel — for a total of $53.7 million for Skydance projects.
\n\nNew Line’s deal with Ice Cube for “Last Friday” was announced some 18 months ago, and Nia Long recently confirmed the project was still in the works. The project is described by the film commission as “Untitled Last Friday Sequel.”
\n\n“I’m thrilled to produce Untitled Last Friday Sequel right here in Southern California, where…
Original source: https://variety.com/