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Last Updated: May 29, 2008 |
Home > 2008
Legislation > 2008 Georgia Entertainment Industry Investment Act Highlights
- Previous multi-part, tier incentive is now 20% flat tax credit on qualified Georgia expenditures.
- The foundation of the Act is a 20% investment tax credit. Production companies
that spend a minimum of $500,000 in the state on qualified production and post
production expenditures in a single year are eligible for this credit. This includes
most materials, services and labor. The 20% credit applies to both residential and
out-of-town hires with a salary cap of $500,000 per person, per production.
- Provides an additional 10% tax credit if a production company includes a Georgia
promotional logo in the finished feature film, TV series, music video or video
game project.
- Provides the same tax credits anywhere in the State of Georgia.
- Provides the same tax credits to all instate and out-of-state labor.
- Commercials and music videos are eligible for the 20% base tax credit once the
production company has spent a minimum of $500,000 on qualified expenditures
during a single year. This may be through a single project or multiple projects.
- The tax credits apply to the company’s Georgia tax liability. Should the company
have limited or no Georgia tax liability, then the credit may be transferred or sold
once to one or multiple Georgia-based companies to use against their tax liabilities.
- In addition to feature film and television production, the Act also includes other
areas of entertainment industry development including animation, interactive
entertainment and video game development.
- Productions may also qualify to take advantage of Georgia’s Sales and Use Tax Exemption, a point-of-purchase sales tax exemption that saves you up to 8% on most purchases and rentals in the state.
Please contact the Georgia Film, Music & Digital Entertainment Office of the Georgia Department of Economic Development at 404-962-4052 or via email at film@georgia.org for more information.
Source: Georgia Film, Music & Digital Entertainment Office
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