Arizona Agreement to Produce Motion Picture

State:
Multi-State
Control #:
US-02592BG
Format:
Word; 
Rich Text
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Description

The Film Producer is charged with managing the expenses, organization, and all decisions involved in producing the film itself. It is the Film Producer that conceives of an idea for a film, hires a Director, makes casting decisions, and decides on the film crew and locations. The Producer is the primary authority overseeing the all aspects of the production of a film, and its progress.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

A taxpayer may elect to treat the cost of any qualified film or television production, and any qualified live theatrical production, as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction.

The Grand Canyon State offers a solar tax credit of 25% of your installation costs, up to a maximum of $1,000. Homeowners can apply for this personal income tax credit when they file their taxes with the state. If the credit exceeds the amount of taxes you owe, you can carry it over for up to five years.

Today, at least 35 states, DC, Puerto Rico, and the U.S. Virgin Islands offer tax incentives for film production, but at the peak in 2010, 45 states, Washington D.C., and Puerto Rico offered them. After the Great Recession, many states began paring back these incentives to save money.

Also referred to as the Arizona Motion Picture Production Program, the 2023 Arizona tax credit has an annual cap of $75 million, which is set to increase to $125 million by 2025. The terms offer a 15% tax credit for productions of up to $10 million, 17.5% for up to $35 million, and 20% for over $35 million.

Cash Rebates: Cash rebates are paid to production companies directly by the state, usually as a percentage of the company's qualified expenses. Grant: Grants are distributed to production companies by three states and the District of Columbia.

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Arizona Agreement to Produce Motion Picture