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CALIFORNIA

California’s next Film & TV Tax Credit Program application window, for non-transferable tax credits, will be November 4-8, 2019.

Projects being accepted during this time are Recurring TV, Relocating TV, New TV, Pilots, Movies for TV, and Mini-Series.

Approval letters will be issued on December 16, 2019.

Several application periods are administered each fiscal year. Interested applicants are to submit applications via the online portal. The California Film Commission will notify qualified applicants the following business day after the application window closes. Selected applicants will have three business days to upload supporting documentation via the online application portal

COLORADO

The Colorado Economic Development Commission has agreed to provide $1.25M from the Strategic Fund, a cash incentive pool, after the Colorado Office of Economic Development cleared the move with the legislature’s Joint Budget Committee.

This increases the state’s annual film incentive funding from $750K to $2M for FY 2020 (July 1, 2019 – June 30, 2020.)

Colorado offers a 20% rebate on qualified expenditures, including both resident and non-resident payroll.

FLORIDA

SB 530, which would create the Film, Television, and Digital Media Targeted Rebate Program, was filed for the 2020 legislative session.

The program would offer qualified productions a 20% rebate on eligible expenditure, which includes payments to Florida residents (up to $200K per resident), and an additional 3% if 75% of the production takes place in an underutilized area or is deemed family friendly.

Productions would be required to meet a minimum qualified spend of $1.5M for features, $500K per episode for TV, or $1.5M for a digital media project, with a project cap of $2M.

If passed, the bill would become effective immediately.

NEW JERSEY

Governor Phil Murphy announced his administration will seek to expand the amount of money available for the state’s film tax credit program, as well as extend the program’s sunset date.

Currently the New Jersey & Digital Media Tax Credit Program has an annual cap of $75M through June 30, 2023.

SOUTH CAROLINA

South Carolina has made some changes to their film production incentive, including:

  • New procedures for loan-outs, in which all loan-out companies and independent contractors must register with the SC Secretary of State and Department of Revenue, obtain a SC withholding number, and complete form WH-403, which must be provided to the SC Film Commission before the start of principal photography.

    In the event of a new hire after principal photography has begun, such as an actor, the loan-out must be approved by the SC Film Commission, meet the registration requirements, and send the completed WH-402 form to the SC Film Commission immediately.

  • The state now allows kit/box rentals, for both residents and non-residents, to qualify for the incentive. These and other payroll reimbursements will qualify as an employee wage rebate (25% for residents, 20% for non-residents), rather than the supplier rebate.

These policy changes are effective as of July 1, 2019.


ALBERTA

Last week, the Province of Alberta unveiled its 2019-20 budget, which includes changes to the province’s film incentive program. Alberta will begin phasing out its Screen-Based Production Grant (SPG) to replace it with a refundable tax credit. This will bring Alberta’s incentive program in line with other major Canadian provinces.

Under the new program (which will come into effect in 2020) qualifying productions may apply for a tax credit of 22% of all eligible expenditures. The per project cap is being increased to $10M, from the previous caps of $5M and $7.5M. During the transition, there may be delays for those productions with grant applications already in process. However, it is expected that those applications will be grandfathered in. Alberta indicated that it intends to maintain its current level of program funding at $45M, however the funding level will be lowered for the next two years to $15M in 2020-21 and $30M in 2021-22, before returning to $45M in 2022-23.

In addition, Alberta announced the elimination of the Interactive Digital Media Tax Credit. Other measures were introduced to reduce the regulation and red tape to stimulate additional economic development in Alberta.

The full Alberta Budget is located here.
Listen to the budget speech here.

NOVA SCOTIA

The Nova Scotia Film and Television Production Incentive Fund has been increased by $6M, for a total budget of $26M for 2019-20. The fund is administered by Nova Scotia Business Inc. and allows government to budget annual investments in film based on fiscal ability.

To be eligible for the Fund, productions must have a permanent establishment in the province, be engaged primarily in the creation of film/video productions for public viewing, and have a minimum Nova Scotia spend of $25K.


AUSTRALIA – VICTORIA

Premier of Victoria, Daniel Andrews announced the construction of a new sound stage – one of the largest in the Southern Hemisphere – at Docklands Studios Melbourne, which will increase its capacity by 60%.

Construction of the new stage is expected to start in mid-2020 and be completed by late 2021. Throughout the construction phase, business is expected to continue as usual in the five existing stages.

Victoria offers productions several grants that can be combined with Australia’s Federal Government incentives, including Location Offset, Post/Digital/VFX Offset, and Producer Offset.

PHILIPPINES

The Film Development Council of the Philippines (FDCP) has launched two financial incentives – a location incentive and an international co-production fund – to encourage international film productions to shoot in the Philippines.

The Film Location Incentive Program (FLIP) will offer financial support to both international productions and co-productions with Filipino producers who spend at least $154K in the Philippines for production and post-production.

The International Co-Production Fund (ICOF) is open to eligible international productions that are set up as co-productions with a certified Philippines producer or production company, that spend at least $155K.

Both programs will offer a cash rebate between 10% – 40% of qualified production costs, with a cap of $193K.

Applications will open in January 2020.

SLOVAKIA

Slovakia’s film and TV cash rebate will increase from 20% to 33%, beginning January 1, 2020.

To qualify for the incentive, international productions must spend at least €300K (approx. $330K) for TV features or series, as well as feature film slates (up to three), or €150K (approx. $166K) for individual feature films, documentary films, and animated films, within a period of three years.

There is no budget limit on eligible costs, which include royalties and fees paid to cast and crew registered to pay taxes in Slovakia; costs paid to an entity with a tax domicile in the Slovak Republic, or costs where tax was deducted and paid in the Slovak Republic.


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.