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EP Incentive Solutions Update Available

PRODUCTION INCENTIVES

RECENT UPDATES - June 16, 2011

Type of Incentive: Transferable production expense credit; transferable infrastructure project credit; transferable digital animation production company credit; effective May 4, 2011, new rules apply to tax credit transfers
Project Criteria: A 10% credit is available for minimum qualifying local spend of $100,000 to $500,000; 15% is available for spend > $500,000 to $1,000,0000; and a 30% credit is available for a qualifying local spend > $1,000,000 for the film and digital animation credits; film projects must meet a 50% local principal photography requirement or 50% of post-production costs or spend not less than $1,000,000 in the state on post-production costs; minimum spend for an interactive website is > $500,000 per year; for state-certified infrastructure projects costing ≥ $3,000,000, the credit is 20%
Loan-Out Considerations: Production companies applying for the credit must produce a registration confirmation notice from the Connecticut DRS evidencing that each loan-out company has registered to withhold Connecticut income tax as an employer; no expenses for loan-out companies will be considered a qualified production expense without a registration confirmation; loan-outs must also register with the Secretary of State to do business in the state

Maximum Benefit: 35% of qualifying local spend, excluding compensation > $1,000,000 paid to any person; a discounted rate of 30% applies to qualifying non-resident cast and crew if MO income taxes are withheld

Maximum Benefit: 25% of qualifying local spend
Compensation and Project Caps/Funding Per Year: Cap of $1,000,000 on compensation; $20,000,000 per feature film; no other caps

Loan-Out Considerations: Loan-outs are required to obtain a license to transact business in the state in order for their payments to be eligible expenditure

Maximum Benefit: 15% of qualifying local spend (QNZPE) for LBSP and PDV Grants; 40% of qualifying local spend (QNZPE) on eligible feature films, and 20% on eligible television, documentary and short form animation for SPIF Grant. An additional grant of 15% is available to projects spending more than NZ$200,000,000; calculated based on "qualifying additional expenditure" (guaranteed deferments, participation and residual payments to NZ tax residents)
Compensation and Project Caps/Funding Per Year: There is no ceiling on compensation for LBSP and PDV; maximum amount eligible for QNZPE for any individual project is NZ$15,000,000 for SPIF Grant; no caps on projects or funding per year for LBSP and PDV; the additional grant is capped at NZ$9,750,000 per project