'Sherlock Holmes 3,' 'Purge 5' Tapped to Receive Big California Tax Credits
Sherlock Holmes is bringing his detective skills to California — and the state is paying him handsomely.
As part of California’s expanded Film & TV Tax Credit Program, "Sherlock Holmes 3" will receive a major tax credit to the tune of $20.8 million break — a near-record amount.
The California Film Commission announced 10 feature films that have been approved conditionally for tax credits under the state’s Film & TV Tax Credit Program 2.0.
Other films on the list include "The Purge 5," a "Little Shop of Horrors" remake," and “King Richard” starring Will Smith.
The commission said the 10 projects will generate an estimated $310 million in qualified spending (below-the-line wages and payments to in-state vendors).
They will employ an estimated 1,561 crew, 469 cast and 31,550 background actors/stand-ins over a combined 453 filming days in California.
"Sherlock Holmes 3" — which recently hired "Rocketman" director Dexter Fletcher and will bring back Robert Downey Jr. and Jude Law — alone will generate an estimated $106.8 million. That's the second biggest project after “Captain Marvel.”
Other films have received more in tax credits, though. "Bumblebee" netted $22.4 million and LeBron James' "Space Jam 2" got a $21.8 million tax break.