TYPE OF INCENTIVE
The West Virginia Film Incentive program features a transferable tax credit
- 27% of qualified spend in state; 4% kicker on all qualified costs if 10 or more WV residents hired full time
- Resident and non-resident labor and fringe can qualify
- ATL labor can qualify
- Out-of-state vendors can qualify
- 6% state sales tax exemption
- Hotel occupancy tax exemption (state and local tax)
- THINK ABOUT:
- $25,000 minimum spend
- Loan out registration and withholding required\
5 THINGS TO REMEMBER
- There is a $5 million state-wide cap on the credit, with the state’s fiscal year ending June 30th.
- An Agreed-Upon-Procedures report from a licensed CPA firm is required.
- West Virginia is trying to promote full-time film jobs in the state and requires more backup on the 10 residents if the production company is seeking the 4% bonus on qualified costs.
- Signature locations include The Prison, The River, The Bunker, The Capitol, The Palace, The Institution and The Observatory.
- The flow of the Gauley River can be modulated to suit production and is a complimentary service made possible by the drawdown of Summersville Lake by the U.S. Army Corps of Engineers.