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CALIFORNIA

California’s next Film & TV Tax Credit application window will be from March 9 – 13, 2020. The window is for feature films (independent and non-independent) only. Approval letters will be issued April 13, 2020.

VIRGINIA

SB 923, which extends the sunset date for the state’s Motion Picture Production Tax Credit from January 1, 2022 to January 1, 2027, has passed the House and Senate and is now eligible for the Governor.

FEDERAL

In 2017, the Government of Canada introduced the ‘Service Fees Act’ (Act) to replace the ‘User Fees Act’. The Act establishes administrative obligations, and requires that program fees increase annually in accordance with the Consumer Price Index.

Starting March 31, 2020, some Canadian Film or Video Production Tax Credit (CPTC) and Film or Video Production Service Tax Credit (PSTC) fixed-rate program fees will increase.

For more information on these fee increases, please reach out to the EP Canada team at incentives_info@epcanada.com.

SOUTH KOREA

South Korea has increased their film incentive from 20-25% up to 25-30%.

Productions who shoot more than 10 days in Korea and spend more than 2B KRW (approx. $2M) are eligible for a 30% incentive, while productions that shoot more than three days in Korea and spend between 50M KRW (approx. $44K) and 2B KRW (approx. $1.75M) are eligible for a 25% incentive.

The maximum grant per production is 700M KRW (approx. 580K) and the program’s total budget for 2020 is 800M KRW (approx. 700K).


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.

Loans made by GEPF, LLC and EP Financial Solutions, LLC, made or arranged pursuant to a California Finance Lenders Law license.