Tax Credits - Idaho

IDAHO'S MOTION MEDIA REBATE PROGRAM
http://www.filmidaho.org/incentives.aspx
Legislation HB 592 passed on Tuesday, March 25, 2008! However, the program is currently not funded due to the recession's impact on the state budget. IFO will announce with a press release when funding occurs.
The program provides a 20% rebate for qualifying productions on all goods and services purchased in Idaho if at least $200,000 is spent in the state and at least 20% of crew are Idaho residents (will slide up to 30% over time). Capped at $500,000 per production, the program includes film, television pilots and episodes, documentaries and commercials. Qualifying criteria and rules as well as the application will be posted on this site upon implementation.
SALES TAX REBATE ON GOODS
Idaho has a rebate of the 6% sales tax on tangible personal property (which excludes consumables such as food) when $200,000 is spent on a wide variety of qualifying expenses.
LODGING EXEMPTION
Production personnel who are staying 30 days or more in Idaho lodging facilities are totally exempt from both sales and lodging taxes, currently 8%. Local option taxes levied in certain communities would also be exempt.
FEDERAL TAX INCENTIVE (American Jobs Creation Act)
The incentives are for all taxpayers, including companies, as long as they pay taxes.
Section 181 - any taxpayer, individual or company that invests in a qualifying film receives 100% loss in the year or years the money is spent.
The limit is up to $15 million per film and $15 million per episode for television with a maximum of 44 episodes. The incentive, unless extended, expires at the end of 2008.
Section 199 applies to film, music, video and all other manufacturing companies. As to music, it would apply only to those who compose, manufacture, and receive income from the sale of their music. It is the same for film and video. The deduction is 3 percent until 2007, 6 percent from 2007 to 2010 and then 9 percent from 2010 on.
INCENTIVE FOR RELOCATING OR NEW COMPANIES
Additionally, companies building new facilities may qualify for another rebate enacted in 2005 and amended in 2006. Minimum facility building costs and minimum new employees would apply. Please inquire with the Idaho Film Office for more information.
"WELCOME TO IDAHO" INCENTIVES
Idaho is naturally more cost-effective. Built-in incentives include reasonable prices on lodging, goods and services, long summer shoot days, great weather and a spirit of friendliness and cooperation.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.