Film Tax Rentroduction: Georgia

Films Tax Credit1Introduction:Georgia is a “Five Star” state, as rated by the film and entertainment industry. Five star is the highest rating of states based on business and tax incentives that they provide to entertainment business. So far, Kentucky is the only other state in the union that matches Georgia in this rating by the film and entertainment industry. According to the film production guide, Georgia-lensed feature films and television productions generated an economic impact of $6 billion in FY 2015. As I invest my precious time, hard-earned money and other resources in my up-coming film “American Raiders,” my focus is mostly on areas of economic benefits and great tax incentives.

The primary benefits of film credits to state residents are increased employment and higher incomes generated by film production activities. Based on the analysis from a study reported by “Robert Cline, Ernst & Young LLP’s National Director of State and Local Tax Policy Economics, reveals a full range of economic benefits from film credits, the impacts from tourism and capital investments can be more significant than the impact of the film production activity. Significant increases in state tourism can be tied to film productions. In order to benefit from the Georgia Film tax incentive program, the production companies does not need to be incorporated or headquartered in Georgia or hold a Georgia bank account, companies or corporations formed for a specific project are eligible to apply, production companies must not be in default on any tax obligation to the state or in default on any loan guaranteed by the state. The qualified projects are , Feature films, Television series, pilots or movies, Televised commercials, documentaries, animated films and television programs, music videos, sound recordings excluding license fees used in certified feature films, television series, pilots, movies, and video games, including motion picture soundtracks for projects produced entirely in Georgia. Based on these requirement to benefit for the Georgian tax incentive

The film event took place in Mosul, IRAQ. The targeted audience for this films are video gamers, veterans, and action movie Fans. It is rate R with a lot of motion pictures. The movie is about Marine Corps Special Forces (Raiders Aka MARSOC) and Kurdish/Peshmerga Special Forces (AKA) ISIS Hunting Club. These Special Forces went on a mission to rescue captives by the Islamic States, also got information that one of theirs who is now a retired commander had also been captured and kept by the Islamic states. This inform jeopardized the entire mission to rescue the captives, as raiders shifted their focus to instead try to rescue their retired teammate.Budget: The Filmasking amount is $42 Million, marketing price is $17million dollars, and the total cost in round figure is 60 million. The comparative film of 13 hour is 16millions (Michael bay), Total budget of the film in the opening weekend is 50 USD, $16,194,738 Domestic gross $52,853,219, Worldwide $54,456,000.The contact inform of the films production tax incentive program is Georgia Department of Revenue 1800 Century Blvd NE Suite 18100 Atlanta, GA 30345 Attn: Compliance Division – Film Credit Application Review.I am a new actor in the Film making industry with limited resources, I think Georgia tax incentive program will benefit me enormously.Producers who