Illinois Film Tax Credits | Entertainment Tax Credits in Illinois | Film Tax Credit in IL
Film Production Capital provides tax credit-based financing for films in Illinois, 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 Illinois film tax credits below.
Illinois Highlights:
• New legislation December 2008, remains non-refundable, only a single transfer allowed divided up to no more than 10 taxpayers within 1 year of its certification.
• 30% Credit on expenditures to IL Vendors (IL-based company with $20K+/yr in business)
• 30% Credit on compensation ($100K or less) to IL resident employees (IL Driver’s Lic or ID before production)
• 15% Additional Credit on compensation on top of 30% if IL resident of impoverished area.
• $50,000 in Illinois production spend for a project 29 minutes or under,
• $100,000 in Illinois production spend for a project over 30 minutes qualifies
• Production companies must also be willing to promote diversity by making a “good – faith” effort to hire a percentage of minorities. They must also submit a diversity plan setting forth proactive steps they will take in achieving a crew that represents the diversity of the State.
• Lodging tax waived retroactively for stays over 30 days.
If you are interested in obtaining more information about our services in Illinois, or any other state, please call us at 1-866-454-9205 or email us at info@filmproductioncapital.com.
Illinois Film Office: www.illinoisfilm.biz
Incentives Information Page: http://www.illinoisbiz.biz/dceo/Bureaus/Film/Tax+Incentives/
