March 25, 2015
CALIFORNIA TAX CREDIT PROGRAM
April 1, 2015 -
LAST ALLOCATION OF FUNDS FROM "OLD" TAX CREDIT PROGRAM
Only Independent* projects may submit an application for April's FINAL LOTTERY.
- As in prior years, $10 million in tax credits will be reserved for Independent projects; selection via lottery
- Credit allocations will be issued starting July 1, 2015; principal photography may not begin prior to receiving a credit allocation
- Projects will be selected based on old eligibility rules (i.e., qualified expenditures for independent projects may not exceed $10 million)
- Applicants will be contacted with their queue number status on April 3rd.
*Independent film is defined as a motion picture with a minimum budget of $1 million and a maximum qualified spend budget of $10 million, produced by a company that is not publicly traded and is not more than 25 percent owned (directly or indirectly) by a publicly traded company.
CALIFORNIA FILM & TV TAX CREDIT PROGRAM 2.0
The California Film Commission is currently developing regulations and other procedures to administer the newly expanded tax credit program. Please check our website for updates and make a note of these key dates:
May 11-17, 2015 - New Program: First Application Period for NON-INDEPENDENT TV PROJECTS ONLY
(Productions may not begin principal photography before July 1, 2015)
JULY 13-25, 2015 - New Program: First Application Period for FEATURE FILMS and INDEPENDENT PROJECTS
(Productions may not begin principal photography prior to receiving a credit allocation)
For more information visit: www.film.ca.gov/incentives
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