Monday, May 4, 2015

Entertainment tax credit extended 3 years

Gov. Nathan Deal has signed House Bill 339 which extends the state income tax credit for film, video, and digital production until 2019. The credit had been scheduled to sunset on January 1, 2016.

Decatur has become a popular location for film shoots.  But the credit also has beneficial economic development impacts statewide.  WALB reports that the film and production tax credit is “widely credited with turning Georgia into one of the top production locations in the country and making movies a 5 billion dollar a year industry here.”

The entertainment tax credit had been deemed so successful that some in the industry were pushing for an expansion of the Georgia credit during this legislative session rather than just an extension. However, legislators have been taking a more critical view lately about the number of tax credits currently offered in the Revenue code.

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