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Arizona will hand out up to 125 million a year in tax breaks to Hollywood, joining the ranks of just a handful of states with nine-figure caps in their incentive programs.
Under a program that Gov. Doug Ducey allowed to become law Wednesday without his signature, productions that shoot in Arizona will be eligible for a refundable tax credit of 15 to 20 percent of expenses. The Arizona Motion Picture Production Program will start at 75 million in 2023 and grow to 125 million by 2025.
To qualify, producers must use an Arizona production facility or, if the project is primarily filmed on location, must mostly shoot and conduct pre- and postproduction in the state. The program features a tiered credit system: productions that spend less than 10 million will get a base tax credit of 15 percent, while those that spend more than 35 million will get 20 percent. Projects with budgets from...
Arizona will hand out up to 125 million a year in tax breaks to Hollywood, joining the ranks of just a handful of states with nine-figure caps in their incentive programs.
Under a program that Gov. Doug Ducey allowed to become law Wednesday without his signature, productions that shoot in Arizona will be eligible for a refundable tax credit of 15 to 20 percent of expenses. The Arizona Motion Picture Production Program will start at 75 million in 2023 and grow to 125 million by 2025.
To qualify, producers must use an Arizona production facility or, if the project is primarily filmed on location, must mostly shoot and conduct pre- and postproduction in the state. The program features a tiered credit system: productions that spend less than 10 million will get a base tax credit of 15 percent, while those that spend more than 35 million will get 20 percent. Projects with budgets from...
- 7/7/2022
- by Winston Cho
- The Hollywood Reporter - Movie News
For years, Arizona has watched with envy as New Mexico developed a thriving film economy thanks to a generous tax break.
So now the state is getting in on the action.
Gov. Doug Ducey, a Republican, is expected to sign a bill this week creating a refundable tax credit equal to 15-20 percent of production expenses. The credit will have annual cap rising from 75 million to 125 million over three years.
“This is a good thing for Arizona,” said Jennifer Londgon, a Democratic state representative from Phoenix. “We’re tired of all of this creative talent driving through Arizona to get to New Mexico.”
Across the state, industry stakeholders have been pushing lawmakers for years to create a film incentive to compete with other states. New Mexico was among the first states to introduce a credit in 2003, and has used it to lure TV shows like “Breaking Bad” and “Better Call Saul.
So now the state is getting in on the action.
Gov. Doug Ducey, a Republican, is expected to sign a bill this week creating a refundable tax credit equal to 15-20 percent of production expenses. The credit will have annual cap rising from 75 million to 125 million over three years.
“This is a good thing for Arizona,” said Jennifer Londgon, a Democratic state representative from Phoenix. “We’re tired of all of this creative talent driving through Arizona to get to New Mexico.”
Across the state, industry stakeholders have been pushing lawmakers for years to create a film incentive to compete with other states. New Mexico was among the first states to introduce a credit in 2003, and has used it to lure TV shows like “Breaking Bad” and “Better Call Saul.
- 7/5/2022
- by Gene Maddaus
- Variety Film + TV
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