INCENTIVE PROGRAMS

Although many states have curtailed or terminated their incentives programs, others have expanded or enhanced their programs. There is still a substantial amount of money available – to find it:

States with Funding Available

Alabama – $6 million available now, with new funds will be available on October 1st. $10 million annual cap.

Alaska – $50 million is available. Alaska has no caps on talent or projects, but requires a CPA audit to sell their 30-44% credits.

Colorado – $500,000 remains for their 10% rebate.

Connecticut – no annual cap. Regulations have tightened up for this (up to) 30% transferable credit.

Florida – (film only – see below for television). Only Florida resident cast and crew qualify, plus FL goods and services.

Georgia – 20% transferable credit, plus 10% uplift for logo (totaling 30%), requires audit/tax return. New sound stages, lots of post facilities. No annual ceiling.

Hawaii – refundable credit of 15% to 20%, requires a tax return. No annual cap.

Illinois – only resident cast and crew qualify, but Chicago is a major production center. Transferable credit of 30%. $100,000 per hire cap, but no annual ceiling.

Indiana – $2.5 million remains for the remainder of this calendar year.

Louisiana – top choice of producers, transferable credit of 30%, plus 5% bump for resident labor. The state redeems credits at 85 cents after CPA audit, or they can be sold (brokered). Many films now in prep or pre-production, so crew is getting strained. No annual ceiling, and three great stages.

Massachusetts – 25% transferable credit; state redeems at 90 cents. No caps or ceiling, and the credits are easy to sell after CPA audit.

Mississippi – a rebate of 25% for materials and non-resident crew, 30% for resident crew, $1M per hire cap. “The Help” was shot in Mississippi. Not a lot of crew depth, but growing. New sound stage in Canton. Costs are low, and the state is eager for production. $18 million is available.

Montana – refundable credit of 9% to 14%. No annual cap.

New Jersey – $14 million available, but half of this will be gone very soon, as earlier shows complete their submissions. 20% transferable credit, sellable after the CPA audit.

New Mexico – annual allocation is $50 million, for this 25% refundable credit which requires a NM tax return. First come, first served; if funds not available when you apply, you wait a year. Depending on total amount, credits awarded over 1, 2 or 3 years.

New York – fiscal year started July 1st, so new funds are available. Below-the-line credit of 30%, payable over 1-3 years with filing of NY state tax returns.

North Carolina – refundable credit of 25%, $1M per hire cap, and project cap of $7.5M. NC requires a tax return. No annual ceiling.

Pennsylvania – Some funds remain, but not for long. However, applications are stil being accepted, as films may drop out of the queue, freeing up funds for new projects.

South Carolina – $14 million currently available for their 10% to 30% rebate.

Texas – The incentive has now been raised to 15% for video game production. The previous rate was 5%. Only Texas resident cast and crew qualify, plus TX goods and services.

Utah – $11 million of fully refundable credits at 25% (with tax return), $3 million for 25% cash rebates (up to $500,000 per project).

West Virginia – $10 million annual cap, $10 million available. 27-31% credits.

States Without Funding

Arizona – program was allowed to sunset, new legislation was defeated.

Florida(television only) – funds for the TV queue are exhausted, and without new legislation, new application will not be accepted.

Missouri – the film commission was not funded.

Idaho – program is not funded.

Iowa – program has been terminated.

Ohio – all funds gone until next fiscal year. Applications are being accepted in case something drops out of the queue

Oklahoma – no funds available until fiscal 2013, which starts July 1, 2012. Applications will be accepted beginning January 1, 2012.

Oregon – a good program, but they are out of funds until July 1, 2012.

Washington – program was allowed to sunset.

Wisconsin – allocation of $500,000 per year.

OTHER LOCATIONS TO CONSIDER

California – all funds allocated. Applications will be accepted starting June 1, 2012, for the next fiscal year, which starts July 1, 2012.

Michigan – Funds currently exhausted, but $25 million via a grant becomes available October 1, 2011. $2M cap per hire, and qualifying rates vary from 30-42%.

Minnesota – $1 million has been allocated; please contact the commissioner for details. Rules and requirements will change – no additional information is available.