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DATE: July 14, 2015
Reminder: Application Window Now Open
California Film and TV Tax Credit Program 2.0
July 13 - 25 - Application Window
(For Non-independent Features and Independent Projects)
The on-line Application portal is live through midnight on July 25th. TaxCredit.film.ca.gov
July Application Funding:
- $48.3 million in tax credits available for Non-independent Feature Films (non-transferable credits)
- $6.9 million in credits available for Independent Projects (transferable credits)
Independent applicants must select "Independent Project" in the application if they intend to sell their tax credits.
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Application instructions, checklist, and other helpful resources can be found on the CFC website.
Applicants should begin to prepare their budget and materials early. You will need a completed and tagged budget in order to fill out the application.
Be sure to carefully read the Budget/Tagging Instructions
so that you can accurately tag your budget.
A Jobs Ratio Calculator tool is available to assist you in preparing details for the application.
Finally, applicants should prepare all materials listed in the
Checklist as you will be required to submit these immediately if your application is selected.
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About the California Film & TV Tax Credit Program 2.0:
The program is aimed at retaining and attracting production jobs and economic activity across the state. It boosts California's competitiveness by more than tripling the program's size (from $100 million to $330 million annually). It also extends eligibility to include a range of project types that were previously excluded (including big-budget features films, TV pilots, and 1-hr TV series for any distribution outlet).
The new program replaces the prior lottery system with a "jobs ratio" ranking system that selects projects based on job creation and other criteria.
Other key features detailed in the regulations include:
- 5% "uplift" for non-independent productions with qualified expenditures for visual effects, music scoring/track recording or filming outside the Los Angeles 30-mile zone.
- Category-specific competition - under the new program, different types of productions (e.g., TV, indie films, studio films, etc.) each have a dedicated fund of tax credits, so each project competes directly against comparable (or "like") projects.
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PROGRAM DETAILS AVAILABLE ONLINE
The informational documents listed below are available on the CFC website. It is strongly advised that applicants review each document prior to project budgeting and scheduling.
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