In a recent article published in Accounting Today, Bennett Thrasher partner Peter Stathopoulos provides insight regarding how the success of Georgia’s Film Tax Credit inspired the state to create the Music Investment Act, which is designed to attract the music industry back to Georgia. Stathopoulos says that Georgia is home to many well-known artists, but has recently been losing business to music powerhouses such as Nashville, Los Angeles and New York. “Georgia has a long and vibrant history in the music industry,” Stathopoulos was quoted as saying. “We’re home to artists like Ray Charles, the Allman Brothers, REM, the B-52s, Ludacris, Travis Tritt and the Zac Brown Band.”
Georgia Music Investment Credit Details
The new law will go into effect on Jan. 1, 2018, and includes some impressive incentives to artists and music companies. It will offer 15 to 20 percent tax credits to qualified productions, including feature films, television movies or series, commercials, music videos, interactive entertainment and animated projects. To read the full article, please click here.
For more information on the Georgia Music Investment Credit or any other state and local tax credits, contact Peter Stathopoulos by calling 770.396.2200.