In a recent article published in Oz Magazine’s blog, Chris Benner, partner at Bennett Thrasher,and Matthew V. Wilson, of Counsel at Arnall Golden Gregory LLP, provide insight on Georgia’s film tax credits that have proven to be irresistible to buyers. Georgia or “Y’allywood” has quickly become a dominant player in the domestic and international film and television industry, which could be the result of the state’s alluring film tax incentives. The Georgia Entertainment Industry Investment Act provides that all qualified film production expenditures incurred in the state are eligible for tax credits, also known as film credits. “Importantly for those outside of the film industry, the credits are freely transferrable one time to any Georgia taxpayer and may be sold and transferred by a simple purchase agreement,” said Wilson and Benner. Both explain the availability and use of the film credits and how individuals and business can reap the benefits.
Click here to read the full article.
For more information on Georgia’s film tax credits, please contact Chris Benner or Peter Stathopoulos by calling 770.396.2200.