For more information on incentives in each state, visit the Production Incentives map on our website and click on the state of interest.
The pending US federal tax plan could introduce an un-capped version of Section 181, which expired last year. Previously, Section 181 allowed deductions for the first $15M of a production filmed in the US.
Proposed amendments to the Georgia Post-Production Film Tax Credit will be considered for adoption on December 20, 2017. The amendments include the following:
- Providing it otherwise qualifies, allows a hired qualifying post-production company to be entitled to the post-production film tax credit in the event that the hiring post-production company does not qualify pursuant to O.C.G.A. 48-7-40.26A.
- Allows unclaimed portions of the post-production film tax credit to roll over into the following year or years until it is fully claimed.
All comments regarding the proposed rule changes must be received by the Department of Revenue no later than 10am (EST) on Wednesday, December 20.
HB 398, which would have established a commission to study and evaluate providing financial incentives for professional media productions, has died.
For more information on incentives around the world, visit our website and click on the country of interest.
South Australia has announced the largest ever direct boost to the South Australian film industry, with a new un-capped rebate which will strengthen the State’s ability to attract large budget and international productions. The new “Post Production, Digital, and Visual Effects” (PDV) Rebate will see companies receive a rebate of 10% of their South Australian expenditure, mirroring the Australian Federal Government’s PDV Offset of 30%.
The Canada Media Fund and the Mexican Film Institute have opened the call for entries for their co-development incentive designed to encourage TV projects between Canadian and Mexican producers. The incentive was first introduced at Los Cabos International Film Festival in November. (See World Screen)
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.
A state much in the news of late, Alabama has inspired songs (“Sweet Home Alabama”), spawned music groups (Alabama Shakes, Alabama), birthed recorded music (Muscle Shoals Sound Studio), and even supported a major NASA facility, Huntsville’s Marshall Space Flight Center – a major tourist destination for visitors from around the world. To filmmakers, Alabama offers a whopping tax credit of up to 35% on qualified resident spend and 25% on non-resident spend.
With its mild temperatures, landscapes ranging from sandy coastlines to green mountains, and urban areas that offer both gritty and gentrified neighborhoods, the state of North Carolina has long lured filmmakers. The city of Wilmington on the state’s Atlantic coast – long a Mecca for Hollywood and Big Apple productions – boasts an attractive riverfront, seasoned crews, and the second-largest stage space east of California. Plus, North Carolina entices with a 25% rebate on qualified spend capped at $1M per hire.
Iceland, an island nation on the edge of the Arctic Ocean, offers some of the planet’s most breathtaking natural wonders, which many producers have used as spectacular backdrops for their movies. Its black sands have even doubled for the South Pacific in Clint Eastwood’s “Letters From Iwo Jima.” And Iceland’s 25% rebate on qualified expenses make the trip worthwhile.
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.