NEWS
Posted 21 June, 2010 in CT News
Courtesy of EP Incentive Solutions:
The Governor signed legislation on May 7, 2010, amending provisions of the film tax credit and the state-certified project investment credit, effective July 1, 2010, for income years beginning on or after January 1, 2010. The new law: no longer includes “development” in “production expenses or costs,” and defines “compensation” as base salary or wages. The project eligibility tests have been broadened: by reducing the “principal photography days in the state” requirement from 50% to 25%, and by adding a third option for projects spending $1 million or more in post-production costs within the state. The definition of “eligible expenditures” for state-certified projects has been expanded to include “capital leases or purchases.”
Posted 7 June, 2010 in CT News
Previously, the incentive program required a production company to conduct at least 50% of principal photography days within the state or spend at least 50% of all post production costs in Connecticut. The newly enacted legislation requires a production company to conduct at least 25% of the principal photography days in-state or spend at least 50% of post production costs in-state or spend at least $1 million dollars on post production in-state in order to qualify for the tax credit program.
Posted 7 March, 2010 in CT News
Connecticut has introduced a bill to change the existing incentive program from a tax credit to a nontransferable tax rebate program. To be considered an eligible production company at least 50% of its total production must be conducted in studios in Connecticut. The requirement that 50% of principal photography days be within Connecticut or at least 50% of post production costs be incurred within Connecticut have been removed along with all language relating to transferring or assigning the credit. Otherwise, most of the language from the existing program has been carried forward.
Posted 22 December, 2007 in CT News
Effective January 1, 2008, the maximum salary per actor that will qualify is $15 million.
Posted 19 October, 2007 in CT News
Recent tax breaks have led to several movies being filmed in at least a dozen cities across Connecticut.Connecticut’s film tax credit has been so successful in luring moviemakers and famous faces that now there aren’t enough production crews to do the work.With that in mind, a committee of legislators, educators, union leaders and film industry professionals gathered at the capital Wednesday to try to script a solution.They’ve dubbed themselves Hollywood East and their goal is to establish a solid work force made up of those who live in Connecticut.In recent months there have been many celebrity spottings in Connecticut. There was filming for an “Indiana Jones” movie in New Haven and Leonardo DiCaprio shot scenes for one of his upcoming films in Thomaston.The Hollywood East group strives not only to improve the work force but also to expand academic opportunities for an even bigger homegrown work force in the future.In the next 100 days, Hollywood East is expected to make recommendations on how to create the training programs necessary to insure the jobs stay in CT.
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