California Film Tax Credits | Entertainment Tax Credits in California | Film Tax Credit in CA
Film Production Capital provides tax credit-based financing for films in California, as well as television, digital interactive media (video games), and all other qualifying entertainment productions. We are the largest purchaser/financier of entertainment tax credits in the country that specializes in independent productions. You can find some of the highlights involving California film tax credits below.
California Highlights:
• Applications will not be accepted until July 1, 2009.
• 20% tax credit for feature films ($1-75 Mil Budget), MOW or miniseries ($500K minimum budget), and new basic cable television series ($1Mil minimum budget).
• 25% tax credit for a television series that filmed previous seasons outside of CA and independent film ($1-10 Mil Budget, not publicly traded company, not more than 25% owned by publicly traded company).
• Nonrefundable, and only transferable to third parties for independent films, all others have 5 year carryover, or can only transfer to an affiliate.
• 75% of production days or budget in CA.
• Credit can be used to offset income, sales and use tax after January 1, 2011.
• Excludes wages of writers, directors, music directors, music composers, music supervisors, producers and performers, other than background actors with no scripted lines.
• $100 Mil annual cap from FY 09/10 to FY 13/14, $10 Mil is reserved for independent films each year, first-come, first-served.
• San Francisco will refund all San Francisco payroll taxes paid and partial rebate of city hotel and sales tax while filming.
• No State hotel tax on occupancy. Most cities or counties that impose a local hotel tax have a tax exemption for occupancies in excess of 30 days.
• Vendors receive five percent sales tax exemption on the purchase or lease of post-production equipment to pass on to the production company.
If you are interested in obtaining more information about our services in California, or any other state, please call us at 1-866-454-9205 or email us at info@filmproductioncapital.com.
California Film Commission:
www.film.ca.gov
Incentives Information:
http://www.film.ca.gov/Incentives/
