Cast & Crew Financial Servicesoffers both U.S. and Canadian production incentive management services from setup to audit, as well as completion bond services, and production incentive financing.
On June 27, 2018, Governor Jerry Brown signed Senate Bill 871, which amends the California film and television incentives program as follows:
Extends the sunset date from June 30, 2020 to June 30, 2025;
Increases the incentive on qualified wages paid for services performed by qualified individuals that reside in CA but outside the Los Angeles zone as follows:
Non-indie productions and relocated television series in its second or subsequent year of receiving the California tax credit may earn an additional 10% on qualified wages;
Indie productions and relocated television series in its first year of receiving the California credit may earn an additional 5% on qualified wages;
Extends the principal photography commencement deadline for projects with budgets of $100 million or more from 180 days to 240 days after the credit allocation letter date;
Removes the additional 5% incentive for qualifying expenditures related to music scoring and music track recording;
Allocates 8% of the annual program funds for projects produced by independent production companies, previously 5%, as follows:
4.8% for independent films with qualified expenditures totaling $10 million or less;
3.2% for independent films with qualified expenditures in excess of $10 million;
Reduces the annual allocation for relocating television series to 17%, previously 20%;
Includes safeguards against unlawful harassment in the workplace; and,
Requires a summary of the applicant's voluntary programs to increase the representation of minorities and women in certain job classifications.
While the changes take effect for taxable years beginning on or after January 1, 2020, allocation letters for this program will not be issued until after July 1, 2020.
On June 22, 2018, Governor Gina Raimondo signed
House Bill 7200 - sub a, which amends the Rhode Island film and television incentive program as follows:
Increases the incentive from 25% to 30%; and,
Increases the per project incentive cap from $5 million to $7 million; and,
Specifies that reality television is not a production eligible for the incentive.
Together with Media Guarantors, we now offer full completion bond services and counsel. Bringing unmatched experience, flexibility, security and responsiveness to filmmakers and productions.
Senate Bill 1214 proposes to amend the entertainment production tax credit by allowing a tax credit purchaser or assignee, that is included in the same Federal consolidated tax return as the original taxpayer earning the credit, the same carryover privileges as the original taxpayer, which is no more than three years following the first taxable year for which the taxpayer was entitled to claim the credit.
If enacted, the Act shall take effect within 60 days from the date passage.
