  Tools for 2008 What's New at EP? Updates by Jurisdiction Maximize Your Incentives with EP Upcoming Appearances |
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   The Essential Guide to U.S. & International Production Incentives, 2008, 3rd Edition, edited by Joseph Chianese, Marco Cordova, and Barbara Rosenfeld. Distribution will be at various events (see Happenings) or pick up a free copy at EP's Burbank office. Monthly Production Incentives Email Updates Archive of previous newsletters is now available. To sign up for our newsletter, please send your request to the EP Production Incentives Group. Recent Updates as of July 22nd to the website, including the "Basic Overview of U.S. and International Production Incentives" PDF. back to top |
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 Entertainment Partners is proud to offer the industry the services of EPPS Purchasing, Inc. for all your procurement production needs. EPPS Purchasing, Inc. sells and/or rents production equipment and supplies in certain states to help your production maximize its incentives. Please contact Marco Cordova, 818.955.6278, if you are interested in using this service for your next production, or to learn how to become a preferred EPPS Purchasing, Inc. vendor. EP New Mexico now has several payroll representatives in our Albuquerque Studios office location to help with productions in New Mexico. EP also offers our Super Loan-Out Services to help your production qualify loan-out payments to non-resident performing artists in New Mexico. Please contact EP's production incentives specialists by email or at 818.955.6216 to learn more about our Super Loan-Out Services. Please contact EP's production incentives specialists by email or at 818.955.6216 if you have any question regarding your next production. We can help you budget your next production and find the most beneficial incentive at no charge. We also provide fee-based services for production incentives administration, finance facilitation, corporate-structure planning, and agreed-upon consulting projects. Visit our Services section for more information and contact information for our production incentive specialists. back to top |
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 NOTE THAT SEVERAL OTHER STATES ARE EXPECTED TO INTRODUCE NEW FILM INCENTIVE LEGISLATION. For more information on proposed legislation and additional incentives updates, visit the Recent Updates section. U.S. Updates FEDERAL Senators Dianne Feinstein (CA) and Gordon Smith (OR) recently introduced S. 3333, the "Domestic Film Production Equity Act of 2008." The Act expands the provisions of Section 199, Deduction for Domestic Activities, by allowing a deduction for part-time and temporary services performed in the United States by actors, production personnel, directors, and producers. The proposed legislation also allows films distributed through the Internet or any other media to qualify, instead of only film and video tape. IDAHO The Film and Television Production Business Rebate was effective July 1, 2008. The new incentive provides a 20% rebate on qualified expenditures with a $500,000 per project cap. However, the new incentive is not currently funded. Please visit our U.S. Overview for additional information. MARYLAND Funding for fiscal year 2008 - 2009, beginning July 1, 2008, is $4,000,000. NORTH CAROLINA Governor Mike Easley recently signed HB 2436, which expanded the North Carolina film production tax credit. Qualified expenses now include (1) up to $1,000,000 paid to highly compensated individuals and (2) the cost of production-related insurance coverage obtained on the production, except for insurance purchased from a related member. The production must also file an Intent to Film form with the North Carolina Film Office, as well as acknowledge in its production credits both the North Carolina Film Office and the regional film office responsible for the geographic area in which the filming occurred. Lastly, the sunset date for the film credit is extended to January 1, 2014. OKLAHOMA Governor Brad Henry recently signed SB 1956, which increases the Oklahoma Film Enhancement Rebate from 15% to 17% if a production company spends at least $20,000 for either (1) the use of music created by a resident that is recorded in Oklahoma or (2) the cost of recording songs or music in the state for use in the production. The enhanced film rebate is effective July 1, 2009. RHODE ISLAND The state passed a new budget (see H 7390 Substitute A) that caps the production tax credit program at $15,000,000 annually for tax years beginning after December 31, 2007. SAN FRANCISCO (CALIFORNIA) Please visit our U.S. Overview for information regarding San Francisco's film rebate program. UTAH The state allocated $5,500,000 to the Motion Picture Incentive Fund for fiscal year 2009. VIRGINIA The state allocated $200,000 to the Motion Picture Opportunity Fund for fiscal year 2009. International Updates HUNGARY The government has reinstated its sponsor tax credit for film production and increased it to 25% by extending the scope of eligible spend; effective July 31, 2008. The incentive now includes a culture "point" test that requires film projects to meet 16 of 32 points (both cultural and industrial criteria), including two of the eight cultural criteria. The new credit sunsets December 31, 2013. UNITED KINGDOM HM Revenue & Customs (HMRC) has finalized the guidance note relating to the taxation of film production companies and their entitlement to film tax relief. This revised note updates and extends the earlier draft guidance. NOTE THAT SEVERAL OTHER STATES ARE EXPECTED TO INTRODUCE NEW FILM INCENTIVE LEGISLATION. For more information on proposed legislation and additional incentives updates, visit the Recent Updates section. back to top |
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 Entertainment Partners also purchased Workers' Compensation policies from local brokers throughout the United States to help maximize your production incentives! Listed below are those production incentive states where EP has a local policy: Florida Hawaii Illinois Louisiana New Mexico Pennsylvania South Carolina Texas More policies to be announced soon!  Entertainment Partners has an office in each of the following states to help maximize your production incentives (more to open soon!):California Connecticut Florida Illinois Louisiana * Massachusetts New Mexico ** New York Pennsylvania South Carolina Utah |
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| * Entertainment Partners has a full-time account representative in Louisiana to help maximize your production incentive benefits. ** EP relocated one of its most experienced paymasters to its office in Albuquerque to service its New Mexico clients. The EP New Mexico Production Incentives Packet is available. For more information contact the EP Production Incentives Group. back to top |
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 ATLAS 8th Annual New York International Film & TV Finance Summit September 23, 2008 Lowes Regency Hotel, New York, NY - EP representative will appear on the "Current Developments and Availability of U.S. State Film & TV Production Tax Incentives" panel. "The Art of Line Producing" August 5, 2008 UCLA Campus, Westwood, CA - EP representative will be teaching a class meeting on how to navigate Production Incentives. back to top |
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DISCLAIMER: These newsletter materials have been prepared by Entertainment Partners for informational purposes only and should not be construed as tax advice or relied on for specific projects. Though every effort has been made to remain current, laws and incentives change and therefore this information may have been revised. Please contact your legal or tax advisors to confirm any laws or the effect of incentives on your project. For updates and more information, please visit the Overview section of our website. |