Film Tax Incentives can be confusing. Going through the process involves adding lots of details about your film. The rules vary state to state. And if you miss something in the paperwork, you could blow your opportunity to get the incentive. That is why it’s always a good idea to work with qualified professionals who know what they’re doing.
David Albert Pierce is the managing partner of Pierce Law Group LLP, an entertainment boutique law firm representing the needs of independent producers, entertainment industry investors and talent. He stopped by Filmmaking Stuff to provide an overview of Film Tax Incentives.
Understanding Film Tax Incentives (For Indie Filmmakers)
In the following interview, you’ll discover the difference between a film tax credit and a film cash rebate so you can decide what works best for your film production. You’ll also gain some tips on how to hire the appropriate professional to help you navigate the process. And finally, you’ll learn that film tax incentives are not dependent on your budget. You get incentives based on the amount you spend in each state.
Depending on the amount of qualified film spend you bring to the state, tax incentives offer you another way to recoup some of your production budget. This money can then be used to cover post production or other expenses. And once you know your number, this information can be added to your film budget and business plan to further entice prospective investors.
After you listen to the interview, you can find out more about tax incentives by contacting the state film office where you plan on producing your project. And remember to employ the help of a qualified professional before moving forward. If you liked this article, you’ll love the more advanced training offered at Filmmaking Stuff HQ.