Pennsylvania Film Production Tax Credit
The Pennsylvania Film Production Tax Credit is a tax credit program supporting the production of feature films and television programs in Pennsylvania. The tax credit was signed into law by Gov. Ed Rendell in July 2004.[1]
The tax credit for qualifying productions equals a 20% reduction in Personal Income Tax, Corporate Net Income, Capital Stock/Foreign Franchise Tax.[2] In order to qualify for the tax credit, the production must incur 60% of its total production expenses within Pennsylvania.[2] The credit also applies to individual television shows that are 15 minutes or longer and intended for a national audience.[1]
Watchdogs, including the Pennsylvania Common Cause criticized lobbyist Leslie McCombs for failing to properly register as a lobbyist for Lions Gate Entertainment while lobbying on behalf of the tax credit.[3]
A 2009 report from the Legislative Budget and Finance Committee in the Pennsylvania General Assembly found that the tax credit supported 4,000 jobs and produced $4.5 million between 2007 and 2008.[4]
During the 2009 Pennsylvania budget impasse, the tax credit was in danger of being repealed.[5] Instead, its total amount was reduced from $75 million to $42 million, with that number increasing to $60 million the next year.[5]
The tax credit brought the production of Zack and Miri Make a Porno, The Road, Shelter, Shannon's Rainbow, Sorority Row, and She's Out of My League to the Pittsburgh region in 2008 and 2009.[6] The majority of filming for I Am Number Four also took place in the greater Pittsburgh area in 2010 due to the tax credit.[7][8]
See also
References
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External links
- Pennsylvania’s Film Production Tax Credit and Industry Analysis Legislative Budget and Finance Committee
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