Producers wishing to apply for tax credits under California’s $100-million annual Film & Television Tax Credit Program are being encouraged to file their applications on June 1 or face the possibility of being placed on a waiting list. The program, launched in 2009 to counter tax incentives offered by other states and countries, has quickly exhausted its funding in the past. The California Film Commission warned that producers who apply after June 1 will likely have to wait until other accepted projects withdraw their applications because of production-related issues. In a statement, Amy Lemisch, executive director of the California Film Commission, which administers the program, said that it “is our best tool for keeping California competitive.” She noted that productions that have benefited from the program “are responsible for $2.2 billion in direct spending within the state, including $736 million in wages paid to ‘below-the-line’ crew members.”
03/03/2011
Here is the original post:
AMY LEMISCH – APPLYING FOR CALIF. TAX CREDITS? ACT FAST!