Monday, March 31, 2014

North Carolina film incentives are in tact through 2014

North Carolina film incentives are in tact through 2014, but the current NC Legislature is promising to allow the sun to set on incentives on January 1, 2015.

Just what are these "Film Incentives?"
In "Producer talk" they are as follows courtesy of the NC film office:

Refundable Tax Credit:
North Carolina offers a 25% refundable tax credit. The 25% refundable tax credit is in effect for a single production who report the qualified expenses on their tax return beginning with the taxable year 2011.


Incentive. - 25% refundable tax credit

Per Project Cap. - $20 million (television series are not subject to per project cap)

Minimum Spend. - $250,000

Annual Cap. - No cap.

Qualified Labor. - First $1 million of each resident & nonresident qualify

Loan Out Withholding. -Yes. 4%

Audit. - North Carolina pays for the audit

Screen Credit Required. - Yes

Qualifying Expenses:
Goods / Services / Compensation & Wages / Production-Related Insurance / Fringes / Per Diems / Living Expenses & Stipends

Qualifying Productions:
Feature Films / Direct-to-Video / Episodic Television Series / Movies of the Week / Television Mini-Series / Reality Television / Commercials / Documentaries / Animation Productions / Webisodes

File Intent to Film online form prior to start of production

State-Owned Property. - Fee-free usage

Sunset Date. - January 1, 2015

Enacted Bill Numbers:
H 1973 (SL 2010-147); H 713 (SL 2010-89); S847 (SL 2012-194)

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Location:Winston-Salem, NC