Short Film and Movies Tax Law Implications (Part 2)
The US remains the dominant center of movies. Movie productions operating as legal entities continue to have large budgets to create incredible films. Thus, state laws continue to offer tax incentives for the production houses.
Georgia
Georgia is growing as a top place for movie filming. Production companies are taking advantage of Georgia’s diverse landscape as the state has mountains, city life, and island beaches.
Tax Credits
Georgia offers very attractive tax credits. Currently the state offers a tax credit that is transferable. This means that if the value of the production company’s credits is higher than its tax liability, the company can sell the excess credits to another production company that owes state taxes. There are brokers in the film industry that will help find buyers and sellers of tax credits.
There is an additional 10% if a production company includes the “Made in Georgia” line in the credits of the film.
Investment
The monetary minimum investment amount is currently $500,000.
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