The Latest Film Tax Credit Info from The Incentives Office
In view of the constant changes happening with regard to state tax film credits it’s great to receive frequent updates from The Incentives Office. For those who are unfamiliar with this organization, they help monetize soft money by providing estimates and vetting anticipated tax credits or rebates for producers and lenders. They are known for managing the entire incentives process from state selection to application, preparation and submission, enhancing the incentives, arranging to cash-flow credits or rebates, tracking, filing for the money and expediting the payment of funds. In addition, they also help states to develop new incentives and improve existing programs. Below I’ve posted the latest information they sent out this week:
First of all, there is a new commissioner in Florida. Shari Kerrigan, a prior legal advisor to the Senate Democratic Caucus in Florida, has been appointed interim director of the Florida Film and Entertainment Commission. Since 2008 Lucia Fishburne has served in this position after being appointed by the previous governor. In several states the person in this position serves at the pleasure of the governor and commissions in Massachusetts, New Mexico, South Carolina and Colorado resigned once the new governors in those states took office.
Moving on to Hawaii, the new legislative session is set to begin and a bill will be introduced to increase the state’s 15% or 20% refundable credit. A similar proposal stalled in committee during the last legislative session. “The Descendants”, a 2012 Golden Globe winner, was filmed on location in Hawaii.
On Saturday, February 11, Jeff Begun and Ease Entertainment will be participating in a “Financing Your Independent Film” panel at the Oxford Film Festival in Oxford, Mississippi. Information about the festival can be viewed at http://www.oxfordfilmfest.com/category/off/. The Incentives Office was also represented this year at Sundance with Dama Claire holding court in the lobby of the Stein Eriksen from January 21st through the 23rd.
The organization’s official 2012 Winter Guide to U.S. Production Incentives is now available for download by visiting their website at http://www.tio1000.com/.