http://filminpa.com/incentives/
Pennsylvania offers a 25% Tax Credit to films that spend at least 60% of their total production budget in the Commonwealth. Eligible projects include: feature films, tv films, tv talk or game show series, tv commercials, and tv pilots or episodes intended as programming for a national audience. Applications can be filed up to 90 days prior to the start date of principal photography.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Friday, April 30, 2010
Thursday, April 29, 2010
Tax Credit - Oregon
http://oregonfilm.org/incentives/
Oregon's incentive programs rebate 20% of your Oregon-based goods and services, and an additional cash payment of up to 16.2% of wages paid to production personnel. These incentives are cash rebates as opposed to tax credits.
Oregon also has no sales tax.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Oregon's incentive programs rebate 20% of your Oregon-based goods and services, and an additional cash payment of up to 16.2% of wages paid to production personnel. These incentives are cash rebates as opposed to tax credits.
Oregon also has no sales tax.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Wednesday, April 28, 2010
Tax Credit - Oklahoma
http://www.oklahomafilm.org/DesktopDefault.aspx?tabindex=2&tabid=6
The Oklahoma Film Enhancement Rebate offers up to 37% on Oklahoma expenditures to qualifying companies filming in the state capped at $5 million per year.
The rebate is extended to film, television and commercial productions.
The company must have a minimum budget of $50,000 and spend $25,000 in Oklahoma.
The company must provide proof of complete financing prior to commencement of principal photography. If the film is not bonded, no rebate money will be released until evidence is provided that all Oklahoma crew and vendors have been paid, along with evidence that there are no liens against any production company in the state of Oklahoma.
General liability insurance with minimum coverage of $1 million, and workers’ compensation policy pursuant to state law are required.
Rebate is payable beginning July 1 following the fiscal year in which documented expenditures were made.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
The Oklahoma Film Enhancement Rebate offers up to 37% on Oklahoma expenditures to qualifying companies filming in the state capped at $5 million per year.
The rebate is extended to film, television and commercial productions.
The company must have a minimum budget of $50,000 and spend $25,000 in Oklahoma.
The company must provide proof of complete financing prior to commencement of principal photography. If the film is not bonded, no rebate money will be released until evidence is provided that all Oklahoma crew and vendors have been paid, along with evidence that there are no liens against any production company in the state of Oklahoma.
General liability insurance with minimum coverage of $1 million, and workers’ compensation policy pursuant to state law are required.
Rebate is payable beginning July 1 following the fiscal year in which documented expenditures were made.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Tuesday, April 27, 2010
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!
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!
Monday, April 26, 2010
Tax Credit - North Dakota
http://www.film.ca.gov/Incentives.htm
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.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
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.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Friday, April 23, 2010
Tax Credits - North Carolina
http://www.ncfilm.com/incentives-benefits.html
North Carolina’s film incentive is a refundable tax credit; Eligible productions receive a
check for the full value of their refund.
Eligible productions are required to file Intent to Film with the North Carolina Film Office
prior to production.
Credit may not exceed $7.5M (~$30M in-state spend)
Eligible productions include film, television, direct-to-video/DVD features, episodic
television series, television mini-series, theatrical, animation productions, and commercials.
For purposes of this tax credit, an episodic TV series is considered one (1) production.
Spending for goods (fuel, food, airline tickets, etc) purchased or leased from an NC
business is eligible for the tax credit if purchased in NC for an NC production. On goods
purchased for $25k or more, the amount included as a qualifying expense is the purchase
price less the fair market value of the goods at the time of production is completed.
The cost of production-related insurance qualifies.
Compensation and wages paid to employees for services performed in NC on
which withholding payments are remitted to the NC Department of Revenue are
eligible for the tax credit regardless of whether paid to residents or non-residents.
Wages up to $1,000,000 will qualify
Loan-outs are required to pay 4% withholding on compensation.
Payments for per diem and fringe benefits are eligible to the extent they are
included in the recipient’s taxable wages subject to withholding.
Incentive is extended to January 1, 2014.
North Carolina must receive on-screen credit.
North Carolina does not charge filmmakers for use of
state-owned property.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
North Carolina’s film incentive is a refundable tax credit; Eligible productions receive a
check for the full value of their refund.
Eligible productions are required to file Intent to Film with the North Carolina Film Office
prior to production.
Credit may not exceed $7.5M (~$30M in-state spend)
Eligible productions include film, television, direct-to-video/DVD features, episodic
television series, television mini-series, theatrical, animation productions, and commercials.
For purposes of this tax credit, an episodic TV series is considered one (1) production.
Spending for goods (fuel, food, airline tickets, etc) purchased or leased from an NC
business is eligible for the tax credit if purchased in NC for an NC production. On goods
purchased for $25k or more, the amount included as a qualifying expense is the purchase
price less the fair market value of the goods at the time of production is completed.
The cost of production-related insurance qualifies.
Compensation and wages paid to employees for services performed in NC on
which withholding payments are remitted to the NC Department of Revenue are
eligible for the tax credit regardless of whether paid to residents or non-residents.
Wages up to $1,000,000 will qualify
Loan-outs are required to pay 4% withholding on compensation.
Payments for per diem and fringe benefits are eligible to the extent they are
included in the recipient’s taxable wages subject to withholding.
Incentive is extended to January 1, 2014.
North Carolina must receive on-screen credit.
North Carolina does not charge filmmakers for use of
state-owned property.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Thursday, April 22, 2010
Tax Credits - New York
http://www.nyc.gov/html/film/html/incentives/made_ny_incentive.shtml
Tax Credit – For films and television productions that complete at least 75% of their stage work in New York City.
- 5% refundable tax credit from NY City
- Incentive is based on NY production costs
Marketing Credit - For film and television productions that complete 75% of their work in New York City. Outdoor media valued at 1% of NYC production costs will be offered to participating productions for co-branded advertising related to the “Made in NY” production.
- Bus shelters
- Broadcast on New York City Media Group Assets:
NYC TV (reach: 8 Million Households in tri-state area)
In conjunction with the marketing credit, a Cultural Benefit allows productions to make a cultural donation equal to .1% of their production costs, to a not-for-profit cultural institution of their choice, in exchange for the marketing credit. The donation would be made in the name of talent or an executive associated with the project, and is intended to support the theatrical, film, writing, and other local arts institutions that nurture upcoming talent and strengthen the City’s creative community.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
Tax Credit – For films and television productions that complete at least 75% of their stage work in New York City.
- 5% refundable tax credit from NY City
- Incentive is based on NY production costs
Marketing Credit - For film and television productions that complete 75% of their work in New York City. Outdoor media valued at 1% of NYC production costs will be offered to participating productions for co-branded advertising related to the “Made in NY” production.
- Bus shelters
- Broadcast on New York City Media Group Assets:
NYC TV (reach: 8 Million Households in tri-state area)
In conjunction with the marketing credit, a Cultural Benefit allows productions to make a cultural donation equal to .1% of their production costs, to a not-for-profit cultural institution of their choice, in exchange for the marketing credit. The donation would be made in the name of talent or an executive associated with the project, and is intended to support the theatrical, film, writing, and other local arts institutions that nurture upcoming talent and strengthen the City’s creative community.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!
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