  Tools for 2008 Updates by Jurisdiction Maximize Your Incentives with EP Upcoming Appearances |
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 Welcome to Entertainment Partners' first e-newsletter on Production Incentives! To keep you as up to date as possible, we expect to send out monthly emails for the latest events around the world regarding tax incentives. In addition, this month we proudly introduce The Essential Guide to U.S. & International Production Incentives, 2008. |
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  *NEW* The Essential Guide to U.S. & International Production Incentives, 2008, 1st Edition, edited by Joseph Chianese, Marco Cordova, and Barbara Rosenfeld. Distribution will be at various events (see Happenings). *NEW* Monthly Production Incentives Email Updates To sign up for our newsletter, please send your request to the EP Production Incentives Group. Recent Updates as of January 9th to website, including the "Basic Overview of U.S. and International Production Incentives" PDF. back to top |
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 NOTE THAT SEVERAL OTHER STATES ARE EXPECTED TO INTRODUCE NEW FILM INCENTIVE LEGISLATION. For more information on proposed legislation and additional incentives updates, visit the Recent Updates section. ALASKA A new production tax credit will be introduced during the state's 2008 regular legislative session. ARIZONA The Arizona Department of Commerce plans to issue new guidelines related to credits for commercials and music videos during February. ILLINOIS The Illinois Film Service Tax Credit expired on December 31, 2007. The state's Film Office anticipates the credit will be extended in the future. LOUISIANA New laws are expected to be introduced in the state's 2008 regular legislative session with new requirements related to loan-out corporations. Entertainment Partners provided comments and suggestions to help the Louisiana Film Office and the industry with the proposed new rules. MICHIGAN Enhanced film incentives will be introduced during the state's 2008 regular legislative session. NEW MEXICO A legislative finance committee decided not to introduce legislation to cap the New Mexico film credit at $30 million per year as originally proposed. New withholding requirements for payments to nonresident actors or from their respective loan-outs are expected to be introduced during the state's 2008 regular legislative session. This new requirement would replace the current law from Sec. 7-2F-2(b) that requires performing artists receiving payments from a personal services corporation to pay New Mexico income taxes for such payments to qualify as a "direct production expenditure." WISCONSIN Effective January 1, 2008, Wisconsin has a new refundable production tax credit. Please refer to the EP website overview on Wisconsin for general credit information. Proposed legislation is expected to be introduced to modify current law. The current interpretation of the Department of Commerce is that wages paid to non-residents and salaries for services provided directly for the accredited Wisconsin production entity and paid by another entity may qualify under the 25% Production Expenditures Tax Credit if certain requirements are met. The $25,000 per person cap does not apply and the two highest salaries are not excluded under the 25% Production Expenditures Tax Credit. The Department also clarified that "production expenditures" are not required to originate from Wisconsin. Note, Entertainment Partners has been working closely with Scott Robbe and the Wisconsin Film Office, as well as the Department of Commerce and a Major Studio on the current interpretation of the rules for an upcoming feature film. NOTE THAT SEVERAL OTHER STATES ARE EXPECTED TO INTRODUCE NEW FILM INCENTIVE LEGISLATION. For more information on proposed legislation and additional incentives updates, visit the Recent Updates section. back to top |
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  Entertainment Partners has an office in each of the following states to help maximize your production incentives (more to open soon!):California Connecticut Florida Illinois Louisiana ** Massachusetts New Mexico *** New York Pennsylvania South Carolina Utah |
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| *** Entertainment Partners purchased a local workers compensation policy in New Mexico to help maximize your production incentives in the state (more local policies to be announced soon!). *** EP relocated one of its most experienced paymasters to its office in Albuquerque to service its New Mexico clients. *** EP New Mexico Production Incentives Packet available. For more information contact our EP Production Incentives Group. back to top |
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 SUNDANCE FILM FESTIVAL 2008 "Production Incentives Panel: MEET THE EXPERTS" on Monday, January 21, 2008, from 10 a.m. - Noon, at the Yarrow Hotel and Conference Center, in Park City, UT. Joseph Chianese will moderate a production incentives panel of industry experts and film commissioners. ATLAS INFORMATION GROUP 8TH ANNUAL FILM & TV SUMMIT Production Incentives Panel during Summit on February 3 - 6, 2008 at the Intercontinental Hotel, Los Angeles, CA. Joseph Chianese, Marco Cordova, Barbara Rosenfeld, and other industry experts will participate in a panel discussion. BEVERLY HILLS BAR ASSOCIATION Production Incentives Panel and Discussion on February 28, 2008. Joseph Chianese, Marco Cordova, Barbara Rosenfeld, and other industry experts will participate in a panel discussion. back to top |
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DISCLAIMER: These newsletter materials have been prepared by Entertainment Partners for informational purposes only and should not be construed as tax advice nor relied upon 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 the Overview section of our website. |