http://www.filmsantaclarita.com/Index.aspx?page=45
On April 28, 2009, The City of Santa Clarita City Council unanimously approved a Film Incentive Program (FIP) as part of an Economic Development 21-Point Business Plan for Progress. The FIP is aimed at retaining and increasing feature and television production in the City of Santa Clarita (City) and the Santa Clarita Valley (SCV) by subsidizing permit fees, and directs staff to explore opportunities to reduce costs of safety personnel, including fire and sheriff.
The FIP will be offered during Fiscal Year 09-10 (July-June) and consists of three components. Incentive One virtually eliminates all permit fees, including road and property use, for feature and television productions who base in Santa Clarita, film a majority of their scenes here and hire local crew, while Incentive Two eliminates basic permit fees for feature, television, commercial, and music video production companies who film more than six times a year in Santa Clarita. Incentive Three provides a partial refund of the Transit Occupancy Tax (TOT) paid to City hotels.
The FIP subsidies will be capped at $150,000 (for all incentives combined). Applications will be accepted and subsidies will be allocated on a first come first served basis. Productions currently based in the City of Santa Clarita will be given first priority.
Hotel Occupancy Tax Relief Available: Yes
Sales Tax Relief for Productions Available: No
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
Tuesday, March 9, 2010
Monday, March 8, 2010
Tax Credits - San Francisco, California
www.filmsf.org
Qualifying productions are eligible for a refund of all payroll tax and city fees up to $600,000 per production.
Feature Films, TV Series episodes and pilots are all eligible for the program. For budgets under $3 million, 55% of principal photography must take place in San Francisco. For budgets of $3 million or more, 65% of principal photography must take place in San Francisco
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
Qualifying productions are eligible for a refund of all payroll tax and city fees up to $600,000 per production.
Feature Films, TV Series episodes and pilots are all eligible for the program. For budgets under $3 million, 55% of principal photography must take place in San Francisco. For budgets of $3 million or more, 65% of principal photography must take place in San Francisco
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
Friday, March 5, 2010
Tax Credits - California
http://film.ca.gov/Incentives/
The program is now fully subscribed through the current fiscal year (July 2009 - June 2010). The CFC is maintaining a waiting list for projects that wish to apply, pending any credits that may become available prior to June 30th. Applicants that wish to apply for the waiting list may want to call the CFC to determine the length of the list and the potential for available credits.
Applications for the next fiscal year's credits (July 2010 - June 2011) will be accepted beginning on June 1, 2010. Any projects on the waiting list will need to reapply to be eligible for the new fiscal year's allocation.
Prior to submitting an application, all applicants should review the guidelines, regulations and all required documents and forms to become familiar with the procedures. All applicants should consult with their legal and financial advisors regarding utilization of the tax credits.
The following is a brief description of the program parameters:
How the Tax Credit Works
Qualified taxpayers are allowed a credit against income and/or sales and use taxes, based on qualified expenditures, for taxable years beginning on or after January 1, 2011. Credits applied to income tax liability are not refundable. Only tax credits issued to an "independent film" may be transferred or sold to an unrelated party. Other qualified taxpayers may carryover tax credits for 5 years and transfer tax credits to an affiliate.
What Types of Productions Qualify for the Program?
To apply for the California Film and Television Incentive Program, a "qualified motion picture" must be one of the following:
(Eligible for 20% Tax Credit):
Feature Films ($1 million minimum - $75 million maximum production budget)
Movies of the Week or Miniseries ($500,000 minimum production budget)
New television series licensed for original distribution on basic cable ($1 million minimum budget; one-half hour shows and other exclusions apply)
(Eligible for 25% Tax Credit):
A television series, without regard to episode length, that filmed all of its prior seasons outside of California.
An "independent film" ($1 million - $10 million budget that is produced by a company that is not publicly traded and that publicly traded companies do not own more that 25% of the producing company.)
A "qualified motion picture" must also meet the following conditions:
75% test (production days or total production budget) in California
Application must be submitted at least 30 days prior to commencement of principal photography
Once an application is approved, principal photography must begin within 180 days
How much was allocated to the program?
$100 million annually beginning fiscal year 2009/2010 through fiscal year 2013/2014
A minimum of $10 million of the annual funding is available for independent films each year
* Principal photography of the qualified motion picture commences after the date on which the application is approved by the California Film Commission, but no later than 180 days after the date of that approval.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
The program is now fully subscribed through the current fiscal year (July 2009 - June 2010). The CFC is maintaining a waiting list for projects that wish to apply, pending any credits that may become available prior to June 30th. Applicants that wish to apply for the waiting list may want to call the CFC to determine the length of the list and the potential for available credits.
Applications for the next fiscal year's credits (July 2010 - June 2011) will be accepted beginning on June 1, 2010. Any projects on the waiting list will need to reapply to be eligible for the new fiscal year's allocation.
Prior to submitting an application, all applicants should review the guidelines, regulations and all required documents and forms to become familiar with the procedures. All applicants should consult with their legal and financial advisors regarding utilization of the tax credits.
The following is a brief description of the program parameters:
How the Tax Credit Works
Qualified taxpayers are allowed a credit against income and/or sales and use taxes, based on qualified expenditures, for taxable years beginning on or after January 1, 2011. Credits applied to income tax liability are not refundable. Only tax credits issued to an "independent film" may be transferred or sold to an unrelated party. Other qualified taxpayers may carryover tax credits for 5 years and transfer tax credits to an affiliate.
What Types of Productions Qualify for the Program?
To apply for the California Film and Television Incentive Program, a "qualified motion picture" must be one of the following:
(Eligible for 20% Tax Credit):
Feature Films ($1 million minimum - $75 million maximum production budget)
Movies of the Week or Miniseries ($500,000 minimum production budget)
New television series licensed for original distribution on basic cable ($1 million minimum budget; one-half hour shows and other exclusions apply)
(Eligible for 25% Tax Credit):
A television series, without regard to episode length, that filmed all of its prior seasons outside of California.
An "independent film" ($1 million - $10 million budget that is produced by a company that is not publicly traded and that publicly traded companies do not own more that 25% of the producing company.)
A "qualified motion picture" must also meet the following conditions:
75% test (production days or total production budget) in California
Application must be submitted at least 30 days prior to commencement of principal photography
Once an application is approved, principal photography must begin within 180 days
How much was allocated to the program?
$100 million annually beginning fiscal year 2009/2010 through fiscal year 2013/2014
A minimum of $10 million of the annual funding is available for independent films each year
* Principal photography of the qualified motion picture commences after the date on which the application is approved by the California Film Commission, but no later than 180 days after the date of that approval.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
Thursday, March 4, 2010
Tax Credits - Arkansas
http://arkansasedc.com/arkansas-film-commission.aspx
To qualify for this rebate, a production company shall spend at least fifty thousand dollars
($50,000) within a six‐month period in connection with the production of one (1) project.
Upon approval of the application by the Commission, the production company shall be
eligible for a rebate on all qualified production costs in connection with the production of a
state‐certified film project.
The amount of the rebate shall be fifteen percent (15%) of all qualified production costs
associated with the production of a state‐certified production.
An approved production company may also receive an additional rebate of ten percent
(10%) for the payroll of below‐the‐line employees involved in the production who are full‐
time residents of Arkansas.
In addition to the production rebate and post‐production rebates, the employment rebate
also entitles a state‐certified production company for benefits of employing full‐time
residents of Arkansas for which the company has submitted a Certified Declaration of
Arkansas Residency form with the Commission.
1. The employment rebate authorizes a rebate of ten percent (10%) for the aggregate
payroll of salaries and wages to Arkansas residents who are below‐the‐line employees of
the state‐certified production.
2. If a production company hires a payroll service company to handle the payroll of a
production, the payroll payments shall be allowed as eligible expenditures provided:
(A) Payments made by the production company to the payroll service company are
paid through an Arkansas financial institution account; and
(B) All eligible income payments to employees and independent contractors done
through the payroll service are to Arkansas residents.
3. The salary for an employee whose salary is equal to or greater than five hundred
thousand dollars ($500,000), shall be excluded from eligibility for either rebate.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
To qualify for this rebate, a production company shall spend at least fifty thousand dollars
($50,000) within a six‐month period in connection with the production of one (1) project.
Upon approval of the application by the Commission, the production company shall be
eligible for a rebate on all qualified production costs in connection with the production of a
state‐certified film project.
The amount of the rebate shall be fifteen percent (15%) of all qualified production costs
associated with the production of a state‐certified production.
An approved production company may also receive an additional rebate of ten percent
(10%) for the payroll of below‐the‐line employees involved in the production who are full‐
time residents of Arkansas.
In addition to the production rebate and post‐production rebates, the employment rebate
also entitles a state‐certified production company for benefits of employing full‐time
residents of Arkansas for which the company has submitted a Certified Declaration of
Arkansas Residency form with the Commission.
1. The employment rebate authorizes a rebate of ten percent (10%) for the aggregate
payroll of salaries and wages to Arkansas residents who are below‐the‐line employees of
the state‐certified production.
2. If a production company hires a payroll service company to handle the payroll of a
production, the payroll payments shall be allowed as eligible expenditures provided:
(A) Payments made by the production company to the payroll service company are
paid through an Arkansas financial institution account; and
(B) All eligible income payments to employees and independent contractors done
through the payroll service are to Arkansas residents.
3. The salary for an employee whose salary is equal to or greater than five hundred
thousand dollars ($500,000), shall be excluded from eligibility for either rebate.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
Wednesday, March 3, 2010
Tax Credits - Arizona
http://www.azcommerce.com/Film/Incentives/Production+Mopic.htm
A qualified company may realize the following tax savings:
TPT exemptions of approximately 6% off of purchases.
Use tax exemptions of approximately 5% off of out-of-state purchases.
Income tax credits equal to 20% or 30% of the company's investment in eligible Arizona production costs.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
A qualified company may realize the following tax savings:
TPT exemptions of approximately 6% off of purchases.
Use tax exemptions of approximately 5% off of out-of-state purchases.
Income tax credits equal to 20% or 30% of the company's investment in eligible Arizona production costs.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget.
Tuesday, March 2, 2010
Tax Credits - Alaska
http://www.film.alaska.gov/incentive_program.htm
Base Credit 30% -Production expenditures must be made in Alaska.
Alaska Hire + 10% -Wages paid to Alaska residents receive an additional 10% credit.
Seasonal+ 2% - Production expenditures made between Oct. 1 and Mar. 30 receive an added 2% credit.
Rural Location+ 2% -Production expenditures made in a rural area also receive an added 2% credit.
Maximum Possible Credit 44% Portions of a production with an Alaskan crew, filmed in rural Alaska between October and March.
Remember to exclude the tax credit on your film budget.
Check QuickFilmBudget.com for a sample film budget.
Base Credit 30% -Production expenditures must be made in Alaska.
Alaska Hire + 10% -Wages paid to Alaska residents receive an additional 10% credit.
Seasonal+ 2% - Production expenditures made between Oct. 1 and Mar. 30 receive an added 2% credit.
Rural Location+ 2% -Production expenditures made in a rural area also receive an added 2% credit.
Maximum Possible Credit 44% Portions of a production with an Alaskan crew, filmed in rural Alaska between October and March.
Remember to exclude the tax credit on your film budget.
Check QuickFilmBudget.com for a sample film budget.
Monday, March 1, 2010
Tax Credits - Alabama
http://alabamafilm.org/filmakerincentives.htm
On March 24, 2009 Governor Bob Riley signed into law the Entertainment Industry Incentive Act of 2009. A qualified production company shall be entitled to a 25% rebate of all state certified expenditures and 35% of all payroll paid to residents of Alabama for the state certified production. Production expenditures for a project must equal or exceed at least $500,000 but must not exceed $10,000,000.
Currently the incentive fund available is $7,500,000 for fiscal year 2010 and $10,000,000 for subsequent years.
Remember to exclude the tax credit in your film budget.
Check QuickFilmBudget.com for a sample film budget.
On March 24, 2009 Governor Bob Riley signed into law the Entertainment Industry Incentive Act of 2009. A qualified production company shall be entitled to a 25% rebate of all state certified expenditures and 35% of all payroll paid to residents of Alabama for the state certified production. Production expenditures for a project must equal or exceed at least $500,000 but must not exceed $10,000,000.
Currently the incentive fund available is $7,500,000 for fiscal year 2010 and $10,000,000 for subsequent years.
Remember to exclude the tax credit in your film budget.
Check QuickFilmBudget.com for a sample film budget.
Subscribe to:
Posts (Atom)
