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CALIFORNIA

California’s Film & Television Tax Credit Program 3.0 begins July 1, 2020. The $1.55B program runs for five years, with a sunset date of June 30, 2025.
Program 3.0 includes various changes from Program 2.0, as well as some additions to the program.

For a comprehensive look into California’s new Program 3.0, watch EP’s interview with Colleen Bell and Nancy Rae Stone of the California Film Commission.

GEORGIA

HB 1037 has been sent to the Governor for signature.
The bill, which was introduced in February, makes changes to the Georgia Entertainment Investment Act including, but not limited to:

  • Requires all productions to undergo mandatory audits by the Georgia Department of Revenue or third-party auditors picked by the state agency prior to issuance of a final certification;
  • Hold issuance of the 10% uplift until multi-market commercial distribution is achieved; and
  • Changes the timing of when a tax credit can be claimed and it’s carry-forward period.

If signed, the bill becomes effective January 1, 2021

OHIO

The Ohio Development Services Agency will conduct a public hearing for the purpose of amending Ohio Administrative Code Section 122:21-1 General Provisions – Motion Picture Tax Credit Program.

The proposed amendments involve the following:

  • 122:21-1-01: Definitions;
  • 122:21-1-02: Eligibility; application process;
  • 122:21-1-03: Application fee;
  • 122:21-1-04: Reporting;
  • 122:21-1-05: Certificate.

The hearing will take place on July 13, 2020 at 9:00am EDT by teleconference and more information can be found in the public hearing notice.

COLOMBIA

Colombia now offers international productions a new 35% tax rebate on qualified expenditures provided by Colombian entities or persons domiciled in the country. The production must spend a minimum of (approx.) $450K.

Colombia also offers a cash rebate of 40% on audiovisual services and 20% on logistics services. Both incentives fall under Law 1556 and are governed by the same committee.


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.