TaxConnections

Login | TAXPAYERS-START HERE | TAX PROFESSIONALS-START HERE

I have a client who is a Film Producer and want to know if anyone can help me tax effect the cost of my clients film production through eligible tax incentives.

Tax Credits Tax Incentives Entertainment Tax
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Peter J. Scalise



Yes, there are tax incentives available to appropriately tax
effect the true cost of your client’s filmmaking production.



Movie Production Incentives (hereinafter “MPIs”) are tax benefits
offered on a state-by-state basis throughout the United States to entice in-state
film production. The structure, type, and size of the incentives vary from
state to state. Many MPIs include tax credits and exemptions (e.g., sales and
use tax exemptions, lodging exemptions, etc.) while other state incentive
packages include cash grants, fee-free locations amongst many other benefits.  As a background, the development of MPIs stems from the economic benefits of filmmaking and television production throughout the United States and to curtail the departure of movie production to other countries.



It should be duly noted that there are now over 30 states that
offer MPIs with most being either transferable (e.g., transferable credits
allow production companies that generate tax credits greater than their tax liability
to sell those credits to other taxpayers, who then use them to reduce or eliminate
their own tax liability) or refundable (e.g., refundable credits are such that
the state will pay the production company the balance in excess of the qualified
expenses).



Please contact me to discuss your client’s fact pattern so that I
can further assist you in preparing a value proposition for your client.





Leave a Comment 257 weeks ago

User Photo
Eric Larson
Well said Peter!
Reply 256 weeks ago
User Photo
Eric Larson
I agree with Peter.  There are some significant film production tax incentives available.
Leave a Comment 256 weeks ago

Meet Leading Tax Advisors

User Photo Peter J. Scalise

Federal Tax Credits & Incentives Practice Leader

New York, NY

User Photo John L Stancil

Tax Advisor/CEO

Lakeland, FL

User Photo John R Dundon, II EA

Tax Director

Denver, CO

User Photo Kevin Johnson MS, JD, LL.M, CPA

Partner

Philadelphia, PA

User Photo Brian Weaver, CPA, MBA

Managing Tax Consultant

Des Plaines, IL

User Photo William Rogers, CFP, MBA, EA

Rancho Santa Fe, CA

Title

User Photo Clinton J Donnelly, LLM

International Tax Advisor

Panama City, Panama

User Photo Jim Marshall, EA

President/ Tax And Financial Advisor

Scottsdale, AZ

User Photo Brett A Thompson, JD, CPA

Managing Tax Lawyer

Katy, TX

User Photo Charles Woodson, EA

Tax Advisor/Fiduciary Coach

San Diego, CA

User Photo John Richardson

Tax Lawyer

Toronto, Canada

User Photo Clifford Benjamin

Senior Tax Principal

Daytona Beach, FL

User Photo Kazim Qasim, EA, CTC

Managing Tax Advisor/CEO

Orlando, FL

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today