Get Ssta Mass Gov

Value. For all British qualifying films of any budget level, the Film Production Company (FPC) can claim a payable cash rebate of up to 25% on UK qualifying expenditure.

But several studies have clearly demonstrated that the investment in TV and movie productions often fails to deliver the promised economic benefits, making film/TV tax credits a bad economic investment that takes money away from more effective programs.

for claims made on or before 31 December 20216 the rate of the credit is 37%, • for claims made from 1 January to 31 December 2022 inclusive the rate is 35%, • for claims made from 1 January to 31 December 2023 inclusive the rate is 34%, • for claims made after this date the rate reverts to 32%.

The film tax incentives consist of a tax credit equal to 25% of a film's production cost and 25% of a film's payroll cost, and an exemption from sales tax for film productions. The incentives are dependent upon a taxpayer incurring Massachusetts production expenses of at least $50,000 in a twelve-month period.

The production expense credit may be equal to 25% of the taxpayer's Massachusetts production expenses in connection with the filming and production of a motion picture in Massachusetts. The production expense credit doesn't include payroll expenses already calculated for its payroll credit.