Georgia’s Film Industry
Georgia is quickly becoming the go- to state for filming movies and television shows because of the generous tax credits the state allows. Production companies that made award winning movies like Selma, Forest Gump, and The Blind Side, along with television shows like Quantico and of course The Walking Dead have really been able to capitalize on the booming film industry in Georgia. From the Blue Ridge Mountains to the City of Atlanta to Tybee Island, and Hartsfield-Jackson International Airport, Georgia provides a wide range of diverse locations for film and television production.
Production companies can earn up to 30% of the total qualified investment in tax credits in Georgia. According to Georgia.org, the majority of those credits, 20%, are allotted to companies filming featured films, commercials, music videos, animation and game development as well as television series that spend at least $500,000. Considering that the average cost per episode of The Walking Dead is $2.75 million, the show easily qualifies. The other 10% of tax credits comes from the finished project (featured film or television show) featuring a state promotional logo which lets everyone know that that particular film or show was produced in Georgia. By the way, the 30% Georgia Film Tax Credit is also transferable. Transferable tax credits are credits that can be sold to another company only if the value of the company selling the credits is higher than the company’s tax liability. It’s no wonder why Rick is smiling.
If you want to know more about tax credits visit our website www.tracsgroup.com or send us an email at email@example.com.