Georgia film production tax credit. A corporate fiduciary partnershipllc or individual income tax account is required. Production companies sell these credits to individuals trusts andor corporations as part of the financing of their project. Georgias generous tax credits to film and tv production companies have sparked a billion dollar studio boom here.
An amendment to a georgia law will streamline the process of applying film and television tax credits in the state as officials said current rules have been outstripped by the explosion production. Film tax credit reporting. Explanation of the new film tax credit reporting and it trans process.
Policy bulletins letter rulings how to directions for film tax credit. As most production companies cant use all of the credits they are allowed to sell their unused credits to any georgia income taxpayer. Georgia has by.
Applications for the 2018 qed credit are being accepted currently. The office maintains a locations database of thousands of properties and provides scouting assistance as well as certifying projects for the tax incentive. This is a solid fact.
The georgia film television and digital entertainment tax credit is a popular incentive that has helped increase film production activity within the state. This is a solid fact. For over 40 years the georgia film office has been engaged in bringing film and television production to georgia.
Applications for 2019 apogeeqee credits will be accepted starting june 1 2018. A taxpayer seeking preapproval for post production film tax credit must file electronically through georgia tax center gtc. List of film tax credit expenditures.
What are the benefits. Film tax credit electronic it trans submission inside of a gtc login. Rule 560 7 8 45 film tax credit.
Once the base investment requirement has been met the film tax credit can be claimed when a georgia tax return is filed. This is an easy way to reduce your georgia tax liability.
Http Www Georgia Org Sites Default Files Wp Uploads 2017 12 Tax Credit Precertification Application Musical Lwt Version 12 15 Pdf