Artfest International, Inc. has launched their new Film and Television Procurement division. This new division is in part possible due to the American Job Creation Act of 2004 (AJCA), which provides Artfest with a 100% tax credit of up to $15,000,000 towards any film, television or radio project. This new division is expected to supplement Artfest's television network, http://www.artchannel.tv/.
The Artfest Film and Television Procurement division will be lead by Bruce Scambler, Certified Public Accountant and renowned Artist. "The IRS has created an incredible opportunity for growing companies like Artfest through the AJCA and specifically, IRS Section 181. We are able to raise up to 15 million dollars for Art Channel Networks and offer Investors a 100% tax write off," stated Scambler.
The AJCA of 2004 enables Art Channel to expand its program offerings on television and to develop film projects as well. Art Channel expects that the AJCA will rapidly expand the host of artists and program offerings the Company currently produces and broadcasts due to the 100% tax credit for all involved investors.