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Film Production Tax Incentives

Focused on Keeping Your Budget Dollars Where They Belong

When it comes to building a financial budget for your production, tax credits are a critical component, leaving no room for error. Neglecting to take advantage of a program or misinterpreting statutory requirements can significantly increase the cost of your production.

How Citrin Cooperman Can Help

At Citrin Cooperman, we’re here to help you maximize your tax credits. Members of our Film Credits Practice Group have consulted on more than 100 productions including feature films, television series, pilots, reality TV, commercials, and documentaries in over 20 states. As a result, we’ve collectively performed the required independent CPA procedures for productions totaling more than $1 billion.

Industry leverage

Led by partner John Genz, a nationally recognized authority in the film credits area, our team performs the required independent CPA procedures for applications in nearly every state that offers an incentive program. Our team has worked side by side with the states and their film offices to develop the CPA procedures for their respective programs. We maintain a confidential but open dialogue with departments of revenue, divisions of taxation, and state and local film offices to discuss unique issues and transactions. As a courtesy, we also field questions from production companies to determine whether a transaction is qualified or non-qualified for a particular program.

OurRelated Services

For production companies, we provide tax credit consulting services such as:

  • Communicating relevant tax laws and incentive processes for target credit states
  • Providing advisory services relating to interpretation of tax credit rules and procedures
  • Reviewing budgets and conferring with production company personnel on anticipated tax incentives in target states
  • Developing qualified spend analysis for target incentive states as needed
  • Ensuring items on cost reports are classified properly and qualify for the desired credit
  • Conferring with production and post-production accountants to confirm all the necessary documents and records are being compiled properly for reporting
  • Providing necessary training for production accountants on tax law and regulations
  • Assisting with loan out company registrations and issues

We also provide production companies assistance with the following:

  • Certificates of Authority and withholding requirements
  • Income tax return compliance
  • Federal Code Section 181 deduction advisory services
  • Sales and use tax consulting, compliance, and refund claims
  • Payroll tax advisory services
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