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HAWAII

The Director of Taxation of the State of Hawaii will hold a public hearing on Monday, October 14 to allow the public to comment on the proposed adoption of rules related to the motion picture, digital media, and film production income tax credit.

The proposed rules create definitions, explain how taxpayers claiming the credit register with the Department of Business, Economic Development, and Tourism (“DBEDT”) and provide DBEDT reports, clarify how the Film Credit’s aggregate cap shall be applied, clarify how credits shall be allocated and distributed, clarify what constitutes a qualified production and what qualifies as qualified productions costs for which the credit can be claimed, and also provide numerous examples.

All interested parties are invited to attend and present their views orally or in writing. Written statements may be submitted to the Rules Office at the Department of Taxation before or at the public hearing.

NEW YORK

Tax credit certificates issued on or after January 1, 2020 to productions participating in the New York State Film Production and Post-Production Tax Credit Programs will be reduced by 0.25%.

The reduced amount will be transferred to the Empire State Entertainment Diversity Job Training Development Fund. The fund was passed as part of an end-of-session comprehensive capital spending bill and will initially provide $1.05M per year.

Click here to read the law in its entirety, and read more about the announcement here.


BRITISH COLUMBIA

Reminder – As of September 24, 2019, pre-certification for PSTC applicants will now require a simple, new pre-certification form that generates a registration number for every new project.

For more details, please visit the Creative BC website.


SERBIA

The Serbian Ministry of Economy has introduced a 30% cash rebate for feature films with a minimum spend of €5M. Serbia also offers a 25% cash rebate on qualifying Serbian spend for feature films, TV series, documentaries, animation, and post-production projects. The increased incentive became effective on August 10, 2019.


OKLAHOMA

Oklahoma may not be the first state that comes to mind when film and TV producers are mulling filming locations and incentives, but the Sooner State offers one of the most competitive programs in the country, with a cash rebate of up to 37% of qualified spend.

To this lure, the Sooner State adds scenic landscapes of rolling hills, forests and sweeping prairies – not to mention classic-looking American cityscapes, unique examples of art deco architecture and archetypal suburban neighborhoods.

The standard 35% cash rebate applies to all qualified expenditures. To reach the higher number of 37%, the state offers a 2% bonus when Oklahoma music and/or recording is utilized in productions.

IRELAND

Few locations on earth can match Ireland’s proverbial 40 shades of green. In addition to its restful hues, the island nation also boasts alluring lakes, rugged windswept coasts, small charming hamlets, rustic farmhouses of aged stone, hilltop castles and breathtaking expanses of wild scrubland.

Bustling and modern Dublin, Ireland’s capital, will be the largest English-speaking city in the European Union once Brexit is completed. It is home to some of Europe’s most advanced production expertise and resources – providing all the backup a producer needs to take advantage of the country’s generous tax credit, which can range from 32% up to 37%.


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.