WHICH IS THE BEST STATE FOR FILM INCENTIVES
Which Is the Best State for Film Incentives
It takes a huge budget, mostly in millions, to produce a film. So, it comes as a relief when film financiers can save some money or get incentives for the film production. There are several different film incentives offered by various states of the US to promote film production in their state.
The film tax incentives might be in the form of tax credits, grants, bonuses, etc. There might be other incentives too like free locations. If you are looking to book a location for your next film, keep reading to know the states that offer the best film incentives.
California Film Incentives
In California, filming is one of the biggest generators of revenue providing jobs to over 700000 people in the state. As such, the state offers some of the best film incentives for film production in California.
In this state, the motion films and TV series are eligible for 20 to 25 percent of tax credit if they meet a certain criterion. For independent films, they can get up to 25% tax credit if they have a budget of $1 million at least. Feature films that are produced on a budget between $1 and $75 million qualify to receive 20% film tax incentive.
To receive the film incentives by state, you need to carry out at least 75 percent of the production process in California.
Georgia Film Tax Credit
The state of Georgia offers transferrable, refundable tax credit as a part of the film tax incentives for film financiers. To get the film incentive, you have to ensure that all production work, pre-production and post-production tasks take place in the state.
The films are eligible to get 20% tax credit. But you can get 10% more film tax credit if you include a logo at the opening scene which says “made in Georgia” and you also have to include links of Georgia’s website to the landing pages of the film’s site.
Illinois Film Tax Incentives
In this transferrable and refundable tax credit, 30% credit is given to feature films. This film tax incentive is also given to short films that have a minimum budget of $500000. If you hire local people for work on the film sets, especially from underprivileged areas, you will be eligible get an additional 15% film tax credit.
There are several states that offer the best film incentives. You have to do your research and see which location suits you the best and which of the film tax incentives are appropriate for film financiers. You can’t always pick the state with the highest incentive as your film needs a certain location. So, do your due diligence and shoot away.
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