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Joe Chianese, EVP of EP Financial Solutions, will be moderating a panel at this year’s festival titled “THE STATE OF THE SLATE: FILMS AT SUNDANCE 2017” on Monday, January 23 at 4:00-5:00pm.

EP and Central Casting will be hosting a cocktail reception after.

The panel will be broadcast as a webinar on Thursday, January 26 at 11:00AM PST. Click here to register!

Updates by Jurisdiction

U.S. Updates
For more information on incentives in each state, visit the Production Incentives map on our website and click on the state of interest.

U.S. FEDERAL
Section 181 ended at the start of 2017. This program had been giving significant tax breaks to investors in shows shot in the U.S. for more than a decade. Originally enacted as part of the American Jobs Creations Act of 2004, Section 181 of the Internal Revenue Code was designed to stem the flow of runaway production to foreign countries that were, and still are, offering generous tax breaks to lure away American productions. (See Deadline)

INDIANA
The state has introduced HB 1219, which would establish the Indiana Film and Media Production Expenditure Tax Credit. The bill provides a 20%-35% refundable tax credit to taxpayers that make certain expenditures for a qualified media production if at least 50% of the total incurred expenses are qualified production expenditures in Indiana. As proposed, the new program would begin January 1, 2018, with a minimum spend of $35K on qualified expenditures.

KENTUCKY
The state introduced HB 124, which would amend the definition of “enhanced incentive county” to include all Kentucky counties listed in the Appalachian region as defined in the latest edition of the Appalachian Regional Development Act of 1965. Applicable to taxable periods beginning on or after January 1, 2017.

MISSISSIPPI
HB 711 has been introduced, which would extend the current sunset date for the rebate on non-resident labor to June 30, 2020. Currently the rebate on non-resident labor is scheduled to sunset on June 30, 2017.

NEW YORK
The state introduced SB 430. If enacted, the bill would provide an annual increase in the aggregate annual amount of Empire State Film Production credits taken, based upon inflation.

New York SB 2256 has been introduced, which would allow all writers’ fees and salaries to be eligible production costs. Eligible fees would be capped at $50K per qualified film with an annual cap of $5M. For productions in which more than three writers are to be hired, their fees only become eligible spend if at least one such writer is a minority group member or a woman. In June of last year we reported on a similar bill that did not move forward after the session was adjourned.

OHIO
UPDATE: The Governor has signed SB 235, which allows a television program produced in the state during the first six months of the 2017 calendar year to be certified as a tax-eligible production for fiscal year 2018, even though the production is commenced before the start of the fiscal year. A credit awarded under this rule cannot exceed $12M and must count against the 2018 fiscal annual cap. We first reported on this bill in our December 2016 newsletter.

OREGON
The state has prefiled HB 2244, which would expand the definition of “qualifying film production” to include large-scale, one-time sporting events, or a group of closely related sporting events, of national or international significance. The bill would also extend the state’s Greenlight Oregon Labor Rebate until January 1, 2024.

TEXAS
The state has introduced SB 99, which would abolish the Music, Film, Television, and Multimedia Office and other incentives for media productions. Texas currently offers rebates for TV and Film productions using their Moving Image Industry Incentive Program.

VIRGINIA
The state has introduced HB 1665, which would extend the sunset date of their motion picture production tax credit from January 1, 2019 to January 1, 2022.

The state has introduced SB 1451, which would allow the 20% credit earned by productions taking place within a federally designated Historically Underutilized Business Zone, at a federal landmark, or in a federal historic district to be exempt from the state’s $6.5M annual cap.


State-by-State Funds Available as of January 1, 2017

Who has funds at the start of 2017? There is still substantial film incentives money left over from last year, and some new money too. Here’s how to find it:

Alabama: $18M currently available
Arkansas: Discretionary pool of $50M. Contact the film office for details
California: The next application window is for TV Projects and runs from February 10 thru February 17, 2017
Colorado: No funds currently available
Connecticut: No program cap
District of Columbia: $3.6M currently available
Georgia: No program cap
Hawaii: No program cap
Illinois: No program cap
Kentucky: No program cap
Louisiana: The current claims cap is completely consumed
Maine: No program cap
Maryland: No funds currently available
Massachusetts: No program cap
Minnesota: $1M currently available
Mississippi: $12.5M currently available
Montana: Discretionary pool available. Contact Film Office for details
Nevada: No funds currently available
New Mexico: $50M available on a rolling basis. Contact Film Office for details
New York: $420M available per year through June 30, 2019. Contact Film Office for details
North Carolina: Over $20M currently available
Ohio: No funds currently available
Oklahoma: $5M currently available on a rolling basis. Contact Film Office for details
Oregon: Contact Film Office for current funding
Pennsylvania: No funds available until July 1, 2017
Puerto Rico: Contact Film Office for current funding
Rhode Island: $15M currently available
South Carolina: No funds currently available
Tennessee: Contact Film Office for current funding
Texas: Contact Film Office for current funding
Utah: $6.79M available per fiscal year. Contact Film Office for details
Virginia: Funds currently available, contact Film Office for details
Washington: $3.5M currently available
West Virginia: $3.6M currently available
Wyoming: Contact Film Office for funding


International Updates
For more information on incentives around the world, visit our website and click on the country of interest.

FINLAND
As of January 1, 2017, Finland has launched a new production incentive that comes in the form of a cash rebate. The scheme will cover up to 25% of eligible production costs incurred entirely or partially in Finland. (See KFTV)

POLAND
According to the Deputy Minister for Culture, new incentives for film producers could double turnover for the country’s film industry. If approved by parliament, the proposed incentives would see the costs of multiple aspects of film production reimbursed by up to 25%, with (approximately) $25.1M provisionally allocated. (See Calvert Journal)


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.