georgia film tax credit 2020
A Base Certification Application may be submitted within 90 days of the start of principal photography. Under the act the Georgia movie tax credit is available to both Georgia residents and non-residents.
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The Georgia Department of Revenue GDOR offers a voluntary program.
. The audit is requested through the Georgia Department of Revenue website GDOR and. GEORGIA FILM TAX CREDIT For a project to be eligible for the 20 base transferable tax credit the Georgia Department of Economic Development must certify the project. An audit is required prior to utilization or transfer of any earned Georgia film tax credit that exceeds 25 million in 2021 125 million in 2022 and for any credit amount thereafter.
Election Outcome Wont Hurt Georgia Film Production Tax Credits No Matter What Happens. The state reported that 234 movies and TV shows filmed there during the 2020 fiscal year. Certification for live action projects will be through the Georgia Film Office.
The credit includes various income and payroll credits but recently passed legislation makes several important changes. There is a salary cap of 500000 per person per production when the employee is paid by salary which is defined by the Georgia film incentives website as being paid with a W2. On August 4 2020 Georgia Governor Brian Kemp signed House Bill 1037 HB 1037 which outlines several changes including a new application process mandatory audits timing of credit issuance and eligibility modifications.
If the production company pays an individual for services as a loan-out a personal.
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