Missouri 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

¶16-820, Earned Income Credit Beginning in 2023, Missouri allows eligible taxpayers a Working Family Tax Credit that is equal to a percentage of the federal earned income credit. Taxpayers must apply the credit against their Missouri income tax liability after reduction for all other credits allowed.

A $100 or more contribution made after July 1, 2022 will yield a 70% tax credit. Contributions made before July 1, 2022 will yield a 50% credit.

The tax credits are applied to your total tax liability incurred for that tax period. The contributor has the tax year the contribution was given and five succeeding tax periods in which to use the credits, if the donor does not have enough tax liability in the tax year the contribution is made.

Current Bill Summary For all tax years beginning on or after January 1, 2022, this act authorizes a tax credit equal to 25% of qualifying in-state expenses, as defined in the act, and 10% of qualifying out-of-state expenses, as defined in the act, associated with the production of a qualified film production project.

Senate Bill 94 Show Mo Act is sponsored by Sen. Denny Hoskins. This bill offers an 8 million annual cap for film and an 8 million annual cap for episodic, provides a base 20% tax credit incentive with the possibility of additional 5% incentive bumps for other specific criteria.

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Missouri Agreement to Produce Motion Picture