Updates by Jurisdiction
For more information on incentives in each state, visit the Production Incentives map on our website and click on the state of interest.
Louisiana has issued a new declaration of residency form. Motion picture production companies claiming a tax credit based on wages or salaries paid to Louisiana residents for work performed on a state-certified production in Louisiana must have each employee complete this declaration of residency.
Netflix is in the final stages of purchasing ABQ Studios, with plans to turn it into its next production hub in the U.S. The arrival of Netflix is expected to bring $1B in production to New Mexico over the next ten years and create up to 1,000 production jobs a year. (See KOB News)
For more information on incentives around the world, visit our website and click on the country of interest.
AUSTRALIA – Queensland
Screen Queensland has introduced a new Post, Digital, and VFX (PDV) Attraction Grant to attract high-end VFX and post-production work to the state. The new grant is available to eligible productions that spend a minimum of AUD$500K on Queensland PDV services with a 10% uncapped rebate that can also be used in conjunction with the Australian Government’s Location, PDV, and Producer Offsets.
Section 481 has been extended by four years to December 2024, while an additional short-term tax incentive of 5% will be introduced for productions based in certain regions. The extension had been expected as the measure allows the State to promote itself as a location for international film and television producers. The relief competes with similar incentives in other markets. (See Screen Ireland and Irish Times)
Germany’s main subsidy program now allows for big-budget animated and VFX heavy projects to secure rebates as high as 45% when they meet new minimum spend requirements. The new rules do away with requirements that films have to be physically shot in-country to qualify for the German Federal Film Fund (DFFF) rebate incentive program. (See Variety)
The Culture and Tourism Ministry is preparing a new support mechanism for exported Turkish TV series. The current regulation, which supports only films, will be amended to also provide financial support to domestic or joint productions that can contribute to Turkey’s promotion abroad. The draft law envisions a reimbursement of up to 30% of the amount spent in Turkey on foreign cinema films and series to be shot in Turkey, in order to make Turkey a “film shooting center.” (See Daily Sabah)
EPFS Locations Spotlight
EP Financial Solutions is a primary contributor to Variety‘s “Artisans” Feature, spotlighting various filming locations around the world. Here are the locations we have covered in recent weeks.
Two factors inextricably link Utah and filmmaking. The first is Monument Valley, on the state’s border with Arizona, home to the classic stone landscapes that form the backdrop of John Ford’s films and other Westerns. The other is Park City, a ski resort that every January hosts the Sundance Film Festival and becomes the epicenter of the indie film world.
But there’s more. Utah also offers filmmakers a tax credit or cash rebate of up to 25% for qualifying expenditures in the state. The minimum spend required is $500K. There’s no per-project cap. The annual cap on the program itself is $8.29M.
Filming in Croatia all but ceased in the 90s as war raged in the region, but the newly independent country has now emerged as one of the most film-friendly in the Balkans, and international projects are bringing business back to the area. In 2012, Croatia launched an international film program that offered productions a cash rebate of up to 20%; it has since risen to 25%.
In addition to the 25% cash rebate, Croatia offers an additional 5% rebate for productions in regions with below average development. The minimum spend required of feature films is 2M HRK (about US$311K), and for TV episodes, the minimum spend is 750K HRK (approximately US$117K). Projects must score 12 out of 34 points on a cultural test.
DISCLAIMER: These materials have been prepared by Entertainment Partners for informational purposes only and should not be construed as tax advice or relied on for 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 our website at productionincentives.com.
Providing links to other sites shall not be construed as an endorsement by Entertainment Partners of the linked websites or the opinions expressed on such websites.