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Production Incentives Update: September 2023

Insights on recent changes to production incentive programs in D.C., Kentucky, Montana, Ohio and Ontario.
September 27, 2023

In this post, learn about recent changes to production incentive programs across the US and Canada.

UNITED STATES JURISDICTION UPDATES

District of Colombia

The Fiscal Year 2024 Local Budget Act of 2023, passed by the city council and recently approved by Congress, reauthorizes the Film Television and Entertainment Rebate Fund. The act allocates $15.2M for the fiscal year ending September 30, 2024.

The District of Columbia offers a rebate on qualified production.

Kentucky

House Bill 303, passed by the state legislature and signed by the Governor, amends the Kentucky Film and Entertainment Industry Incentive Program. The bill clarifies that a production company must commence principal photography in Kentucky within six months of approval and wrap up production within two years from the start date in Kentucky. Furthermore, loan-out companies must be registered and in good standing with the Secretary of State and are required to withhold Kentucky income tax from payments made for services rendered in the state.

Lastly, the bill allocates $25M out of the annual $75M funding for continuous film production. A continuous film production will have a projected budget of at least $10M per calendar year with a minimum Kentucky spend of $1.5M per production. These changes take effect for any project approved by the board on or after January 1, 2024.

Kentucky offers a refundable tax credit on qualified expenditures for production filmed in the state.

Montana

Senate Bill 27, passed by the state legislature and signed by the Governor, amends the Montana Media Production Tax Credit Program. The bill extends the deadline for submitting a production expenditure verification report for projects with a base investment exceeding $350K as follows: Previously, it was required to submit the report either within 60 days of completing principal photography or, for projects spanning multiple tax years, by the end of the relevant tax year for credit claims.

The new deadline is set as the last day of the third year following the conclusion of principal photography. This extension also applies to productions with expenditures claimed over multiple tax years. A production or post-production company with a Montana spend of less than $350K is no longer required to submit a verification report. These changes take effect for any income tax years beginning after December 31, 2023.

Montana offers a transferable tax credit on qualified expenditures for production filmed in the state.

Ohio

The Ohio Motion Picture Tax Credit application period commences on Sunday, October 15, 2023, and concludes on Friday, December 1, 2023. Applications will be reviewed and awarded in two rounds annually, with the second round to be completed by January 31, 2024. The award notification will be emailed, and the date on the letter indicates when production expenses are eligible. 

Ohio offers a refundable tax credit on qualified expenditures for production filmed in the state.

CANADA JURISDICTION UPDATES

Ontario

As of August 24, 2023, the Government of Ontario made regulatory changes. Productions that begin principal photography on or after August 24, 2023, are required to include an acknowledgment of Ontario tax credit support in the production's end credits. A television series is required to include the end credit logo in each episode for which the tax credit is claimed. The changes extend the film and television tax credit eligibility to productions released exclusively online (download or streaming) and commenced principal photography on or after November 1, 2022. 

Ontario offers a refundable tax credit on qualified production. 

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