The Michigan film tax incentives program makes it a popular production destination. Properly understanding the Michigan film tax incentives and credits programs can be difficult and that’s where we come in. KPM Film Credit Advisors can help you navigate and understand the Michigan film tax incentives, as well as tax incentives and tax credit programs in other states.
Information Regarding Michigan Film Tax Incentives
|Type of Incentive||Rebate; refundable; non-transferable|
|Benefit Details||27% for direct production expenditures *32% for resident wages (through 2014, at which time it will be reduced to 27%)*;25% for nonresident below-the-line wages in 2012 (to be reduced by 5% annually until 2015, at which time it will be 10%);27% for nonresident above-the-line wages (through 2014, at which time it will be reduced to 12%);
*An additional 3% is provided on resident wages and direct production expenditures if a qualified facility or post-production facility is used
|Minimum Local Spend||$100,000|
|Loan-Out Company Considerations||Subject to state income tax withholding.|
|Additional Exemptions||Hotel Occupancy Tax Relief Available|
|Qualified Production Expenditures||Incurred In-State; In-State Vendors; Fringes Paid for Qualified Labor; Taxes Paid for Qualified Labor. Contact us for more details.|
|Qualified Labor||Resident and Nonresident; Above the Line and Below the Line. Qualified labor limited up to $2M of payments for any one employee. Contact us for more details.|
|Sunset Date||September 30, 2017|
|Film Commission||Michigan Film Office
300 N. Washington Square
Lansing, MI 48913Margaret O’Riley, Director
Contact KPM Film for more info on Michigan Film Tax Incentives
While Michigan film tax incentives and credits are refundable, they are also non-transferable. Filming in Michigan has many benefits, and KPM Film Credit advisors can help you decide if the Michigan film tax incentive program is right for you. To learn more about Michigan film tax incentives and credits, or other business and tax services including strategic planning, due diligence, SOC reports and much more, contact us at (781) 849-5357 today.
NOTE: This content has been prepared by Kevin P. Martin & Associates, P.C. for informational purposes only and should not be construed as tax advice or relied on for specific projects. Though every effort has been made to remain current, laws and incentives change and, therefore, this information may have been revised. Please contact us to confirm any laws or the effect of incentives on your project.