The Economic Impact of the UK Film Industry - BFI - British Film ...

NAME OF
SCHEME
NEW MEXICO Film Production
Tax Rebate.
NEW YORK Empire State Film
Production Credit
(New York State)
and Made in New
York (New York
City).
SOUTH CAROLINA South Carolina
Production
Incentive fund.
Economic Contribution of the UK Film Industry
TYPE OF TAX
SYSTEM
WHAT IT
SUPPORTS
Tax rebate. Production, preand
post
production, as
long as
expenditures
are subject to
state taxation.
Refundable
tax credits.
Production
(including postproduction
if
done in the state
or city).
July 2007
HOW DOES IT WORK?
25% tax rebate on all production
expenditures that are subject to
taxation by the state (including
New Mexico labour). Film
investment loan programme
offers loans, with participation in
lieu of interest, of up to $15m per
project for qualifying features and
TV projects with budgets of at
least $2m. State also offers a
50% reimbursement of wages for
New Mexico residents promoted
to advanced below-the-line crew
positions.
Empire State Film Production
Credit: refundable 10% tax credit
for film and TV productions doing
at least 75% of their studio work
in qualified state facilities (total
studio work could be as little as
one day). For location work,
post-production and costs of
other work done in New York
State outside the facility, must
either do 75% of its location
shooting in the state or spend at
least $3m on work done at the
qualified facility. Made in New
York: additional 5% credit for
productions based in NYC.
Cash rebate. Production only. Qualified productions that spend
$1m or more in the state qualify
for a 20% wage rebate for the
employment of persons who are
subject to South Carolina
withholdings tax. Productions
also qualify for a cash rebate of
30% on goods and services
acquired from a South Carolina
supplier and on certain out-ofstate
expenses. Rebates paid
within 30 days of final audit.
Qualified productions also pay no
sales tax on hotel rooms (save
7%) or other purchases (5%).
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