We have the industrys most extensive inhouse team of production incentives, finance, and tax experts, and our knowledge of the latest legislation and local laws and regulations is unsurpassed. Movie production incentives in the united states wikipedia. Here are the ten states with the best tax breaks and benefits for film production. Photography, sound synchronization, lighting, and related services. Movie production incentives are tax benefits offered on a statebystate basis throughout the united states to encourage instate film production. The development of movie production incentives stems from the perceived economic benefits of filmmaking and television production in the us. Many people in film attribute that to kentuckys generous film incentive program which gave tax credits to the filmmakers.
Ohio has a 30 percent refundable and transferable credit. Kentucky film tax credits create huge burden on state budget. Film incentives are good for kentucky letters to the editor. Expanding kentuckys film credit does not ultimately serve state in unwinnable race to the bottom as of march of 2014, 39 states were awarding film production incentives to attract the industry. Apr 21, 2016 incentives wont be the only factor for producers deciding where to base projects as antilgbt laws in the south are sure to be a hot topic at the association of film commissioners international. Feb 05, 2018 it wasnt long before state policymakers took matters into their own hands to compete for film industry business. Big sky on the big screen act state tax incentives for. Following is an overview of the current kentucky film and production tax incentives and credits. The film industry in kentucky has slowly been rising. The southern kentucky film commission is your gateway to one of the largest back lots in kentucky.
Aug 06, 2015 this legislation gives kentuckybased filmmakers and production companies a legup by offering incentives that help curb their film production costs. Lease or rental of real property in kentucky as a set location. In addition to helping production companies optimize and monetize state tax incentive programs, we provide a variety of advisory. Monies collected are used toward the development of film cincinnati programs, advocacy, promotional events and to support the continued growth of local film production. What are the thresholds for each type of production. Steve beshear in may, kentucky s new tax incentives package for television and film production is a 30 percent refundable tax credit for qualified production costs with a goal to make the commonwealth competitive with other states. This is the first in a series of stories about tax breaks and incentive programs that cost kentucky billions of dollars each year. Kentucky film incentive the kentucky film incentive is designed to encourage the development of the film industry in kentucky.
Film cincinnati is a 501 c 3 nonprofit corporation which accepts charitable donations tax deductible from companies and individuals. Filming in kentucky offers your production some of the most aggressive incentives in the nation. Kentucky previously passed a series of filmproduction tax incentives in 2009. Jan 18, 2018 the kentucky film office has a running list of approved incentives, which you can find here. This program allows companies who make entertainment programs in kentucky to receive limited rebates on the money they spend in the commonwealth. Kpm film is cpa firm who serve as trusted advisors to state tax offices and film bureaus, attorneys, producers and studio finance departments on the subject of film tax credits across the u. The kentucky film office and the secretary or the tourism, arts and. Then, use our sidebyside comparison tool to assure youre getting the incentive thats right for you. Since 2009, kentucky has offered tax incentives for film productions including featurelength movies, television. If you have any questions, please contact the kentucky film office at 18003456591. But production incentive legislation changes rapidly and no two incentives programs are alike.
Check each jurisdiction for uptodate information on production incentives. Many people in film attribute that to kentucky s generous film incentive program which gave tax credits to the filmmakers. June 2009 through june 2016 approved kentucky production. From film tax incentives to stunning landscapes, the kentucky film office is here to make your vision a reality.
Greater cincinnati and northern kentucky film commission sees a chance to land more movie, tv production in the region. Jul 10, 2019 the film industry in kentucky has slowly been rising. State records show that in december a film incentive of. The kentucky economic development finance authority kedfa, established within the cabinet for economic development to encourage economic development, business expansion and job creation, provides financial support through an array of financial assistance and tax credit programs. From caves, rivers, and streams to the most diverse land in the country, southern kentucky has your filming needs covered.
Qualified expenditures include, but are not limited to, the following items. About soky fim commission southern kentucky film commission. Why an expanded film incentive matters to cincinnati. With so many brand new members, i thought i would try to give information about this network. Steve wells and clyde posey examine the wide variety of state tax incentives available to the. Whether your next production is a feature film, television series, commercial or music video, our office serves as your liaison with the local communities. Kentuckys new film incentives quickly put state on. Louisiana was the first state to adopt state tax incentives for film and television production in 1992. Qualified productions can take advantage of a nonrefundable and nontransferable income tax credit of 30% of approved expenditures, 35% of kentucky resident. Eligibility for refundable motion picture or entertainment production tax incentives incentives available. Film production incentiveshb 445 eliminated the january 1, 2015 expiration date for the film industry tax credit. Steve beshear in may, kentuckys new tax incentives package for television and film production is a 30 percent refundable tax credit for qualified production costs with a goal to make the commonwealth competitive with other states.
Production credits can be in television, commercials, film andor documentaries. The kfo provides free listings for crew and support services. Financial incentives kentucky cabinet for economic development. Why bevin is taking an ax to kentuckys controversial film. Kentuckys probusiness climate provides a number of incentives for businesses. Though every effort has been made to remain current, laws and incentives change and, therefore, this information may have been revised. In 2002, louisiana expanded its program and the states film industry began to experience strong growth. As the southern kentucky film commission, we are here to make the business of film making easier. Production incentives local and international jurisdictions compete heavily for your production dollars, and offer tempting financial incentives to obtain your attention. Hollywood may still be home to the major film studios, but since states began passing movie production incentives mpis in the 1990s, production crews have taken advantage of some very lucrative tax credits, cash rebates, grants and sales. Tax incentives for film production kentucky film office.
Film incentives create opportunities for kentuckians. Click around the listings below to get information on film commissions, research production incentives, look up state labor laws, and find local organizations that provide assistance and resources to independent filmmakers like you. In addition to helping production companies optimize and monetize state tax incentive programs, we provide a variety of advisory, audit and tax services. Since shortly after kentucky enacted tax incentives intended to draw film production to the state in may 2012, hart county judgeexecutive terry martin said hes been interested in bringing the. This legislation gives kentuckybased filmmakers and production companies a legup by offering incentives that help curb their film production costs, said mrs. The kentucky film office has a running list of approved incentives, which you can find here. How new tax incentives could boost kentuckys fledgling. Financial incentives kentucky cabinet for economic. Jun 10, 2015 kentucky previously passed a series of film production tax incentives in 2009. Our relationships with film offices, auditors and state revenue departments are unrivaled because we work with them more often, and on more productions. If you are submitting for a feature film or broadway production. The production incentive program was created in 2009, but it wasnt until 2015 when steve beshear kentuckys governor at the time signed legislation significantly enhancing the financial incentives available to producers that production really took off.
The incentives are designed to boost the number of big film shoots in the state which are rare while increasing the number of small shoots that happen more regularly in kentucky. Incentives wont be the only factor for producers deciding where to base projects as antilgbt laws in the south are sure to be a hot topic at the association of. The incentive provides qualifying applicants the ability to recover up a portion of qualified expenditures through a refundable income tax credit. Please contact entertainment partners or your legal or tax advisors to confirm any laws or the effect of incentives on your project. Kentucky is a 1938 technicolor film with loretta young, richard greene, and walter brennan. Film incentives are good for kentucky letters to the. The kentucky film incentive is designed to encourage the development of the film industry in kentucky. Kentucky offers one of the most generous film incentive programs in the country. Matt bevin ordered the program suspended because he believes it. With the new generous film incentive program, kentucky is now a major competitor in the film industry. It is a romeo and juliet story of lovers jack and sally, set amidst kentucky horseracing, in which a family feud goes back to the civil war and is kept alive by sallys uncle peter.
Kentucky offers incentives for new and expanding industry, small businesses, workforce training and more. First lady jane beshear on the new film tax incentives for kentucky. Nearly two dozen film production companies spent that amount of money in kentucky to produce 23 movies. How new tax incentives could boost kentuckys fledgling film. At the time, the package was attractive to outofstate filmmakers and helped make the state more competitive. Qualified productions have the option of taking advantage of either the sales tax refund incentive or the brand new kentucky statewide incentives. Kentucky business incentives and financial programs. Kentucky gives away millions in film incentives, doesnt know what it. Kentucky has a 30%35% nonrefundable and nontransferable tax credit for feature films, broadway productions, industrial films, documentaries and television shows. Aug 05, 2015 the incentives are designed to boost the number of big film shoots in the state which are rare while increasing the number of small shoots that happen more regularly in kentucky.
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