IS CALIFORNIA LURING AWAY PRODUCTIONS FROM OTHER STATES?
Is the California incentive giving other states a run for their money? According to the LA times, nine television projects have been selected to receive state tax credits, including the Fox series “Scream Queens”, which was previously shot in New Orleans.
The California Film Commission announced that $37.6 million of tax breaks had been applied for by 21 TV projects.
It seems that “Scream Queens” is not the only project relocating to CA, as 4 other projects have also relocated due to the expanded tax credit program. California’s incentive consists of 20% non-transferable tax credit and 25% transferable tax credit with a minimum local spend of $1 million for feature films and TV!
The relocation of films illustrates the success of the expanded tax credit program. According to the film commission, the 9 projects are expected to generate a whopping $313 million in direct in-state spending. The program is also expected to generate a total of $1.7 billion in direct in-state spending for the full fiscal year.
The dedicated funding for the fiscal year allocates 20% for relocating TV. Which series will make the transition to California next? For more information on the CA film tax credit you can find it on our interactive Film Tax Credit Map by clicking here or by contacting one of our Film Tax Credit practice leaders at (781) 849-5357 or email@example.com.