Tax Credit - Ohio

http://taxcredit.discoverohiofilm.com/
On Friday, July 17, 2009, Governor Ted Strickland signed into law Ohio budget bill (HB 1) including Sec. 122.85 which creates a Film Tax Credit for Ohio.

The bill provides for a refundable credit against the corporation franchise or income tax for motion pictures produced in Ohio. The term “motion picture,” as utilized within the context of the legislation, is broadly defined and means entertainment content created in whole or in part within the State of Ohio for distribution or exhibition to the general public.

The tax credit is equal to 25 percent of non-wage and nonresident wage Ohio production expenditures and 35 percent of Ohio resident wage production expenditures.

Up to $5 million in credits is available per production.
A total of $30 million in credits are available in the FY 2010-2011 biennium, with $10 million of the total available in FY 2010 and $20 million available in FY 2011.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!