MASSACHUSETTS SEES INCREASE IN PRODUCTIONS AS A RESULT OF THE STATE’S 25% TAX CREDIT APPLYING TO COMMERCIAL PROJECTS MADE FOR ONLINE
New England Studios, in Devens, MA was recently chosen for a Lexus ad launch by the production company Big Block NYC. While the studios four 18,000 Sq. ft. conjoining stages is a major selling point, the availability of the MA film tax credit program made for an easier decision. According to an article in KFTV, local tax credit brokers have teamed up with New England Studios to make the process of earning the tax credit painless.
OTHER PERKS OF FILMING IN MASSACHUSETTS?
• 25% payroll credit with spend over $50,000 (above & below the line and includes out-of-state production expenses)
• Sales tax exemption for 50% of total budget or filming at least 50% of principal photography days in MA.
• No annual or project caps
• No residency requirements
• No extended schedule of credit payouts
Producers are now able to combine the budgets of multiple projects for the same clients, during any 12 month period, to meet a new low of $50,000 qualifying threshold. This means that smaller budget projects, such as web series and marketing campaigns, may now qualify.
CONSIDERING SHOOTING YOUR NEXT PROJECT IN MA?
For more detail on the MA Film Tax Credit Program check out our interactive State Tax Credit map. If you’re considering Massachusetts, New York, Georgia, or any other location for your next film or TV project, talk to one of practice leaders about the potential benefits at (781) 849-5357 or email@example.com.