x

Politics

Peter Stathopoulos Talks about Georgia’s Tax Break in Music Industry

November 30, 2017

ATLANTA, GA – Georgia, which has been boosting its film industry with tax breaks, and beginning in 2018 will employ a special tax break to encourage the growth of its music industry.

For years, Georgia has been losing artists to states with larger and more supportive infrastructures for the music industry, according to Peter Stathopoulos, a partner at Top 100 Firm Bennett Thrasher in Atlanta, Accounting Today says.

But Georgia lawmakers believe that this is past history, if the recently-passed Georgia Music Investment Act does what they hope.

“Georgia has a long and vibrant history in the music industry,” Stathopoulos noted. “We’re home to artists like Ray Charles, the Allman Brothers, REM, the B-52s, Ludacris, Travis Tritt and the Zac Brown Band. Although we have a great music tradition, in recent years we’ve been losing ground to Nashville, Los Angeles and New York. This will stop or reverse the trend.”

Stathopoulos was on the team responsible for drafting regulations to implement the new music tax credits law – the Georgia Entertainment Industry Investment Act.

“The new law, a cousin of the film tax credit law, was passed with the hope that it would produce similar results in the music industry,” Stathopoulos said.

Peter Stathopoulos is a Partner and leads Bennett Thrasher’s State and Local Tax practice. Stathopoulos has been practicing in the area of state and local taxation and economic development incentives since 1993, according to Bennett Thrasher official webpage.

Stathopoulos has extensive experience in helping clients reduce their effective state tax rates through multistate tax planning and in resolving state tax controversies from the audit level through litigation in state trial and appellate courts.

Mr. Stathopoulos has been a guest professor at the University of Georgia Terry School of Business and the Georgia State University School of Law. Mr. Stathopoulos is a Georgia tax correspondent for State Tax Today, published by Tax Analysts, and has published several articles in The State & Local Tax Lawyer, published by the American Bar Association and the Georgetown University Law Center.

Read the full story here.

RELATED

ATHENS - A regulation in an omnibus bill will allow repatriated Greeks from Albania and the former Soviet Union to receive full national pensions, Labor and Social Protection Minister Kostis Hatzidakis said during a discussion in Greek Parliament on Tuesday.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Mitsotakis at UN Calls on Turkey to Scale Down Rhetoric

UNITED NATIONS – The European Union's response to authoritarianism and a threat to democracy, Turkey's escalating aggression, and the threat of climate change were the focus of Greek Prime Minister Kyriakos Mitsotakis' brief address to the 77th United Nations General Assembly on Friday night (Athens time).

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.