Entertainment Finance Forum/LA
presented by Winston Baker
EP’s Joe Chianese will moderate the panel International Impact: Navigating the Changing State of Global Markets at this year’s Entertainment Finance Forum/LA, presented by Winston Baker.
March 2, 2:10pm – 3:10pm
W Hollywood Hotel
Click here to register
AFCI Taste of the World Locations Forum
Industry professionals are also invited to attend the AFCI Taste of the World Locations Forum, one of the premier AFCI Week events, open to the public. Over 50 film commission representatives from around the globe will be on hand to talk about incentives, locations, facilities, infrastructure, crew depth, and more.
March 1, 2:30pm – 7:30pm
W Hollywood Hotel
Click here to register
Updates by Jurisdiction
For more information on incentives in each state, visit the Production Incentives map on our website and click on the state of interest.
AB 2936 was introduced, which would extend the state’s Film & TV Tax Credit Program through fiscal year 2024-25.
SB 103 was introduced, which would strengthen requirements necessary to earn the state’s film production incentive.
HB 2168 was introduced, which would provide an additional Motion Picture, Digital Media, and Film Production Tax Credit amount (35%) for qualified production costs in a county with a population of 700K or less, provided certain criteria are met.
HB 2688 was introduced, which would amend the state’s film tax credit to require that post-production expenditures shall only be considered “qualified production costs” if at least 75% of the post-production activities and services are performed at a qualified post-production facility.
HB 366 was introduced, which would suspend the acceptance and approval of film production tax credit applications for fiscal years 2018-19 and 2019-20.
The state has halted consideration of new projects for its film incentive program. A spokesman for the Kentucky Tourism, Arts and Heritage Cabinet says that the state stopped accepting applications on February 1 for new projects seeking film industry tax credits. (See WKU FM)
HB 1449 was introduced, which would alter the state’s Film Production Activity Tax Credit by:
- Excluding animation, digital, and multimedia projects from eligibility for the production tax credit
- Altering the definition of “direct costs” to exclude writers, directors, and producers
- Lowering the qualifying amount of total direct costs from $500K to $250K
- Increasing the annual cap to $30M for fiscal years 2019-21
- Not allowing a single film production to receive a tax credit for more than $10M
AB 3083 was introduced, which would establish the New Jersey Film and Television Project and Employment Incentive Program.
SB 257 was introduced, which would increase the annual cap for film production tax credits from $50M to $60M.
AB 9708 was introduced, which would repeal the Empire State Film Production and Post-Production Credits.
HB 525 was introduced, which would extend eligibility for the motion picture tax credit to certain live state theater productions, increase the maximum amount of credits that may be awarded from $40M to $100M per fiscal year, and make other revisions to the law governing administration of the credit.
SB 1069 was introduced, which would lower the rebate amount on qualified expenditures from 35% to 26.25% and would lower the annual cap for fiscal years 2019 and 2020 from $4M to $3M.
HB 1288 was introduced, which would provide contractors’ excise, sales, and use tax refunds for the filming of certain motion pictures, documentaries, TV advertisements, and TV films.
HB 1289 was introduced, which would create a film commission within the Governor’s Office of Economic Development.
HB 2147 was introduced, which would allow a production company to receive an additional 5% grant for spending at least 25% of its filming days in an economically distressed area, telling a state story, or using state music.
SB 2236 was introduced, which would add computer-generated imagery, interactive digital media, and stand-alone post-production scoring and editing to the definition of state-qualified productions.
SB 185 was introduced, which would allow post-production expenditures to qualify for the state’s film tax credit, as well as raise the annual cap from $6.79M to $11.8M.
HB 854 was introduced, which would authorize the Agency of Commerce and Community Development to provide technical and financial support for certain organizations involved in promoting TV and film production and to require the Agency to recommend options to attract and grow TV and film activities in the state.
HB 4608 was introduced, which would create a consumer’s sales and service tax exemption for motion pictures.
For more information on incentives around the world, visit our website and click on the country of interest.
After two successful years of running the film incentive program, the Serbian Government adopted a new Decree on Incentivizing Investments in Production of Audiovisual Works (Film Incentives) this month. The new Decree is offering 25% direct cash rebate for shooting on locations in Serbia and went into effect on February 15, 2018.
The South Australian Film Corporation (SAFC) launched a post-production, digital and visual effects rebate, that went into effect January 1. The uncapped Post, Digital and Visual Effects (PDV) rebate from the SAFC provides a rebate of 10% of South Australian post expenditure, mirroring the Australian Federal Government’s PDV Offset of 30%. Combined, the 40% rebate on spend in the state to international film producers is unmatched anywhere in the country.
EPFS Locations Spotlight
EP Financial Solutions is a primary contributor to Variety‘s “Artisans” Feature, spotlighting various filming locations around the world. Here are the locations we have covered in recent weeks.
South Australia has entered the incentives fray. The Australian state’s South Australian Film Corporation (SAFC) just launched a new 10% rebate that covers all forms of post-production, including digital and visual effects work. It went into effect in January.
The rebate works on top of Australia’s federal incentive to provide a total rebate of up to 40% on post and related work undertaken in the state.
Producers seeking tax incentives, a talented crew base, and a diverse array of shooting locations that include temperate rain forests, a stunning Pacific coastline, looming mountains, and even arid deserts can find it all in the state of Washington. The home of tech giants Amazon and Microsoft, of Starbucks and the Space Needle, also offers a rebate of up to 35% on qualified spend.
The Emerald Isle provides international producers with filmmaking expertise, seasoned crews, solid infrastructure, experienced production service companies, world-famous locally based acting talent, and spectacular locations. Plus, the Inward Production department of the Irish Film Board is on hand to help facilitate the production process, and filmmakers can avail themselves of a 32% rebate on qualified spend.
DISCLAIMER: These materials have been prepared by Entertainment Partners for informational purposes only and should not be construed as tax advice or relied on for specific projects. Though every effort has been made to remain current, laws and incentives change and therefore this information may have been revised. Please contact your legal or tax advisors to confirm any laws or the effect of incentives on your project. For updates and more information, please visit our website at epfinancialsolutions.com.
Providing links to other sites shall not be construed as an endorsement by Entertainment Partners of the linked websites or the opinions expressed on such websites.