How to Avoid Pitfalls in State-Sponsored Film Incentives

Posted on October 17, 2008 in Financing | No Comments

How to Avoid Pitfalls in State-Sponsored Film Incentives by Laura Pratt, offers some tips on maximizing State Tax incentives and avoiding mistakes along the way.

…Tax incentives for film are a fantastic boon for the film industry and can be a powerful lure to entice films to specific locations. These are frequently offered by way of a state economic fund and take the form of rebates, tax incentives, or tax credits. Each state has their own rate of incentives, which go from around 10% to 12% in Utah, to 25% in New Mexico, and 40% in Puerto Rico.

Every state has certain requirements to qualify for film incentives and different criteria for filmmakers. When you’re looking at where to take your film it’s important to clearly understand the incentive programs in the states that you’re looking at.

— Making the Movie | Read The Full Article