georgia film tax credit broker
The Georgia Entertainment Industry Investment Act grants an income tax credit of 20 to qualified productions which include feature films television movies or series documentaries commercials and music video projects. Georgia offers remarkable incentives for post houses and producers of filmed entertainment tv spots eSports and video games.
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With an impeccable track record of success Sugar Creek executives have overseen hundreds of millions of dollars of film and entertainment state tax credit transactions since Georgia state legislation was amended in 2008.
. The buyers of film credits are taxpayers with a Georgia income tax liability. For example you could purchase 20000 of 2017 Georgia Entertainment Credits for 17400 resulting in an immediate savings of 2600. The Georgia film tax credit program has generated more than 4 billion tax credits since the programs inception.
Our Georgia-based team provides unmatched guidance and on-the-ground support at every stage of the process. For example with our home office in Atlanta we have been very supportive of the Georgia entertainment industry and are a leading tax credit broker in the state. Taxpayer enters into a tax credit transfer agreement for 25000 of 2019 Georgia film tax credits from a Major Studio.
A Georgia taxpayer may purchase Georgia Entertainment Credits generally for around 88 per credit and apply them to their current year or future tax returns. Georgias popular Film Tax Credit will undergo significant changes as of January 1 2021. Alternatively the seller could engage the DOR.
Select tax account inquiry business tax credits. Income Tax Letter Rulings Policies and Regulations. Usually a broker puts buyers and sellers together.
Federal Tax Changes Need Help. The State of Georgia implemented the Georgia Entertainment Industry Investment Act the Act in 2008. Send an email for tax credit questions.
88 cents Per Dollar. Buying credits can save 10 percent or more of an expected state tax liability. These incentives come in the form of tax credits that can be sold for cash to Georgia taxpayers looking to reduce a state tax bill.
A production company seeking to sell their credits would almost always have to provide their broker with third-party verification in the form of a comfort letter or Agreed Upon Procedures Report. Theres not a legal minimum but as a practical matter sellers or brokers usually have a minimum sales amount of at least 10000. Tax Credit Forms You may also need.
How-to Videos and Instructions for Tax Credits. The tax credit is 20 - 30 of a projects qualified expenses. Unused credits carryover for five years.
The Strategic Group is an experienced and trusted partner in Georgia entertainment tax credits with relationships with some of the largest productions groups in the state. FAQ for General Business Credits. The Act incentivizes production companies to locate their production activities in Georgia by offering a transferrable entertainment tax credit to the.
The most common entertainment tax credits that we broker are Georgia film tax credits. The taxpayer agrees to pay 88 cents per dollar of tax credit. Entertainment Film Credits.
Help using the Georgia Tax Center.
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