June 2009 through june 2016 approved kentucky production. Production credits can be in television, commercials, film andor documentaries. At the time, the package was attractive to outofstate filmmakers and helped make the state more competitive. Nearly two dozen film production companies spent that amount of money in kentucky to produce 23 movies. Apr 21, 2016 incentives wont be the only factor for producers deciding where to base projects as antilgbt laws in the south are sure to be a hot topic at the association of film commissioners international. Aug 06, 2015 this legislation gives kentuckybased filmmakers and production companies a legup by offering incentives that help curb their film production costs. Tax incentives for film production kentucky film office. The kentucky film incentive is designed to encourage the development of the film industry in kentucky. Following is an overview of the current kentucky film and production tax incentives and credits. Kentucky offers incentives for new and expanding industry, small businesses, workforce training and more. Steve beshear in may, kentucky s new tax incentives package for television and film production is a 30 percent refundable tax credit for qualified production costs with a goal to make the commonwealth competitive with other states. Filming in kentucky offers your production some of the most aggressive incentives in the nation.
Please contact entertainment partners or your legal or tax advisors to confirm any laws or the effect of incentives on your project. Whether your next production is a feature film, television series, commercial or music video, our office serves as your liaison with the local communities. It is a romeo and juliet story of lovers jack and sally, set amidst kentucky horseracing, in which a family feud goes back to the civil war and is kept alive by sallys uncle peter. Financial incentives kentucky cabinet for economic development. Movie production incentives are tax benefits offered on a statebystate basis throughout the united states to encourage instate film production. Film cincinnati is a 501 c 3 nonprofit corporation which accepts charitable donations tax deductible from companies and individuals. The kfo provides free listings for crew and support services. Kentucky business incentives and financial programs. Kentucky film incentive the kentucky film incentive is designed to encourage the development of the film industry in kentucky. The incentive provides qualifying applicants the ability to recover up a portion of qualified expenditures through a refundable income tax credit.
Monies collected are used toward the development of film cincinnati programs, advocacy, promotional events and to support the continued growth of local film production. Qualified expenditures include, but are not limited to, the following items. Steve beshear in may, kentuckys new tax incentives package for television and film production is a 30 percent refundable tax credit for qualified production costs with a goal to make the commonwealth competitive with other states. State records show that in december a film incentive of. But production incentive legislation changes rapidly and no two incentives programs are alike. These incentives came about in the 1990s in response to the flight of movie productions to other countries such as canada. This legislation gives kentuckybased filmmakers and production companies a legup by offering incentives that help curb their film production costs, said mrs. Qualified productions have the option of taking advantage of either the sales tax refund incentive or the brand new kentucky statewide incentives. Then, use our sidebyside comparison tool to assure youre getting the incentive thats right for you.
Jan 18, 2018 the kentucky film office has a running list of approved incentives, which you can find here. Film incentives create opportunities for kentuckians. Incentives wont be the only factor for producers deciding where to base projects as antilgbt laws in the south are sure to be a hot topic at the association of. Film incentives are good for kentucky letters to the editor. Kentucky is a 1938 technicolor film with loretta young, richard greene, and walter brennan. Ohio has a 30 percent refundable and transferable credit. Kentuckys probusiness climate provides a number of incentives for businesses. How new tax incentives could boost kentuckys fledgling. Louisiana was the first state to adopt state tax incentives for film and television production in 1992. Why an expanded film incentive matters to cincinnati. Kpm film is cpa firm who serve as trusted advisors to state tax offices and film bureaus, attorneys, producers and studio finance departments on the subject of film tax credits across the u. Steve wells and clyde posey examine the wide variety of state tax incentives available to the. What are the thresholds for each type of production.
The kentucky economic development finance authority kedfa, established within the cabinet for economic development to encourage economic development, business expansion and job creation, provides financial support through an array of financial assistance and tax credit programs. Many people in film attribute that to kentuckys generous film incentive program which gave tax credits to the filmmakers. First lady jane beshear on the new film tax incentives for kentucky. Kentucky previously passed a series of filmproduction tax incentives in 2009.
The film industry in kentucky has slowly been rising. Though every effort has been made to remain current, laws and incentives change and, therefore, this information may have been revised. For those listings, please make sure you are entering one professional production credit per category or there will be a delay in getting your listing live and online. In addition to helping production companies optimize and monetize state tax incentive programs, we provide a variety of advisory. Aug 05, 2015 the incentives are designed to boost the number of big film shoots in the state which are rare while increasing the number of small shoots that happen more regularly in kentucky. In addition to helping production companies optimize and monetize state tax incentive programs, we provide a variety of advisory, audit and tax services. About soky fim commission southern kentucky film commission.
Jun 10, 2015 kentucky previously passed a series of film production tax incentives in 2009. Many people in film attribute that to kentucky s generous film incentive program which gave tax credits to the filmmakers. Why bevin is taking an ax to kentuckys controversial film. Film incentives are good for kentucky letters to the.
If you have any questions, please contact the kentucky film office at 18003456591. Film production incentiveshb 445 eliminated the january 1, 2015 expiration date for the film industry tax credit. Expanding kentuckys film credit does not ultimately serve state in unwinnable race to the bottom as of march of 2014, 39 states were awarding film production incentives to attract the industry. Kentuckys new film incentives quickly put state on. This is no longer an addback on kentucky schedule m. This is the first in a series of stories about tax breaks and incentive programs that cost kentucky billions of dollars each year.
Eligibility for refundable motion picture or entertainment production tax incentives incentives available. From caves, rivers, and streams to the most diverse land in the country, southern kentucky has your filming needs covered. Photography, sound synchronization, lighting, and related services. Kentucky boasts such production incentives as horses, middle american settings and a 30%35% refundable tax credit. Among the numerous benefits kentucky offers filmmakers are a variety of available film locations from historical mansion, old country church, river, mountains, city to horse farms and racetracks and a talented crew base. The kentucky film office and the secretary or the tourism, arts and. In 2002, louisiana expanded its program and the states film industry began to experience strong growth. Qualified productions can take advantage of a nonrefundable and nontransferable income tax credit of 30% of approved expenditures, 35% of kentucky resident. This statebystate production resource guide can help make it easier to decide where to film your next production. This program allows companies who make entertainment programs in kentucky to receive limited rebates on the money they spend in the commonwealth. Greater cincinnati and northern kentucky film commission sees a chance to land more movie, tv production in the region. Kentucky gives away millions in film incentives, doesnt know what it. Since shortly after kentucky enacted tax incentives intended to draw film production to the state in may 2012, hart county judgeexecutive terry martin said hes been interested in bringing the. Kentucky film tax credits create huge burden on state budget.
Hollywood may still be home to the major film studios, but since states began passing movie production incentives mpis in the 1990s, production crews have taken advantage of some very lucrative tax credits, cash rebates, grants and sales. Jul 10, 2019 the film industry in kentucky has slowly been rising. From film tax incentives to stunning landscapes, the kentucky film office is here to make your vision a reality. The kentucky film office has a running list of approved incentives, which you can find here. The production incentive program was created in 2009, but it wasnt until 2015 when steve beshear kentuckys governor at the time signed legislation significantly enhancing the financial incentives available to producers that production really took off. Check each jurisdiction for uptodate information on production incentives. New mexico has a 25 to 30 refundable film production tax. Production incentives local and international jurisdictions compete heavily for your production dollars, and offer tempting financial incentives to obtain your attention. The incentives are designed to boost the number of big film shoots in the state which are rare while increasing the number of small shoots that happen more regularly in kentucky. Lease or rental of real property in kentucky as a set location.
Matt bevin ordered the program suspended because he believes it. Click around the listings below to get information on film commissions, research production incentives, look up state labor laws, and find local organizations that provide assistance and resources to independent filmmakers like you. With so many brand new members, i thought i would try to give information about this network. Big sky on the big screen act state tax incentives for. Use the link below for more detail on each individual incentive program. Feb 05, 2018 it wasnt long before state policymakers took matters into their own hands to compete for film industry business. Kentucky offers one of the most generous film incentive programs in the country. At the same time, kentucky increased its available tax credit from 20 percent to 30 35 percent of. Financial incentives kentucky cabinet for economic.