Cast & Crew Financial Servicesoffers both U.S. and Canadian production incentive management services from setup to audit, as well as production incentive financing.
On July 10, 2017, House Bill 423 became law thereby amending the motion picture, digital media, and film production tax credit as outlined below:
Institutes an annual funding cap of $35 million and provides that any amount claimed in excess of such cap shall be claimed in the following year;
Extends the sunset date from December 31, 2018 to December 31, 2025;
Requires the taxpayer to provide evidence that it was unsuccessful to secure comparable items within Hawaii, where goods or services are obtained from out of state; and,
Requires a taxpayer to submit a verification review prepared by a qualified CPA using state-prescribed procedures in order to obtain a credit.
The law will take effect December 31, 2018 and will apply to taxable years beginning after December 31, 2018.
