NEWS
Posted 7 March, 2010 in OH News
OHIO – There’s a new Film Commissioner, Jeremy Henthron and in October, 2009 an incentive was funded providing a 25% rebate, plus an additional 10% for local cast and crew. There’s also $10 million available for the 2010-2011 fiscal year with $20 million being allocated for the following fiscal year. There is a per production cap of $5 million.
Posted 29 November, 2009 in OH News
OHIO (as advised by Incentives Office) – A number of producers have inquired about the Ohio film incentive. While the legislature did pass an incentives program, it was never funded.
Posted 10 January, 2009 in OH News
Today, Ohio Governor Ted Strickland VETOED HB 196 which would have created a 25% nonrefundable tax credit for investments in motion pictures produced in Ohio. In vetoing the bill, the Governor declared, “The experience of other states suggests that the return on investment with a film tax credit is a weak 14 to 20 cents on the dollar, making the credit a very expensive means of creating jobs. Given the uncertainties in our economy and revenues, I do not believe an expensive, new, and difficult-to-administer tax credit should be adopted outside the context of budget deliberations.�
Posted 20 December, 2008 in OH News
Ohio has introduced a bill which will provide for a nonrefundable income tax credit equal to 25% of the investor’s base investment. The investor’s base investment is defined as the amount of money invested multiplied by the percentage that anticipated eligible production expenditures are of the total production budget that is expended. There is a statewide cap of $100 million per year and a per project cap of $25M. The minimum spend requirement is $300,000. The credit is transferable and any portion of the credit not used may be carried forward for10 years. Eligible production expenditures means expenditures made in or after 2009 for goods or services consumed in this state and include resident and nonresident cast and crew wages and fringe benefits. A certified public accountant must examine the production company’s expenditures and issue a report certifying the eligible productions costs. This incentive will sunset on December 31, 2013.
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