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NEW JERSEY

AB 5580, which expands the New Jersey Film & Digital Media Tax Credit Program, was signed into law by Governor Phil Murphy, on January 21.

The bill extends the program’s sunset date from July 1, 2023 to July 1, 2028 and increases the annual cap from $75M to $100M. The current digital tax credit’s cap of $10M will remain unchanged.

ALBERTA

Alberta’s new Film and Television Tax Credit (FTTC) is now accepting applications.

The FTTC offers a refundable Alberta tax credit certificate on eligible Alberta production and labor costs of corporations that produce films, television series, and other eligible screen-based productions in the province.

Applicants may apply for either a 22% or 30% tax credit rate up to a maximum of $10M per production.

To bridge the transition of the Screen-based Production grant to the tax credit, productions that began principal photography between March 1, 2019, and January 27, 2020 are eligible to apply to the program until March 31, 2021. For all other productions, principal photography must not have started before an application is submitted to the program.

Full details can be found in the Film and Television Tax Credit program guidelines.

For any questions on the new tax credit, please reach out to the EP Canada team at incentives_info@epcanada.com.

BRITISH COLUMBIA

Creative BC will increase application fees for the PSTC tax credit program from $5,500 to $10,000 CDN, for projects that start Principal Photography on or after February 19, 2020.

FIBC application fees will not be increased.

FRANCE

France’s parliament has greenlit a 10% increase for the international tax rebate, to 40% for international productions boasting a large portion of VFX.

The incentive will allow foreign productions spending at least €2M (approx. $2.2M) on VFX to obtain a 40% rebate on all the qualified spend made in France.


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.