Peter Stathopoulos Provides Insight on Georgia Film Tax Credits in Oz Magazine

In an article published in the May/June issue of Oz Magazine, Peter Stathopoulos discussed the top 10 things taxpayers may not know about Georgia film tax credits, including:

  1. Georgia encourages people to buy film tax credits to help the state attract economic development.
  2. Anyone can purchase these tax credits to reduce their Georgia income tax liability.
  3. Film and television companies based outside of Georgia cannot use their income tax credits here and can only benefit if buyers purchase their tax credits.
  4. Buying film tax credits help create investment in the state from companies who do not receive the benefit of the loans, including sound stages, lighting companies and other vendors.
  5. Buying the tax credits allows for limited time travel by allowing companies to purchase tax credits for prior tax years.
  6. Georgia’s tax credits also support television shows and pilots, television sizzle reels and commercials, digital games, music videos, etc.
  7. Producers can use credits for soft money up front as some lenders will advance funds against a production’s tax credits.
  8. Buying the tax credits allows an individual to become a film financier as they are indirectly financing a portion of the film and television production in the state.
  9. The purchase of these tax credits have caused a boom in Georgia’s entertainment industry. Universities across the state have even expanded their film schools to produce future film and television creators.
  10. While Georgia is still dependent on out-of-state film production companies, the local entertainment industry is still reaching the mass audience.

To read the full article, please click here.

Learn More

For more information regarding entertainment tax credits, please contact Peter Stathopoulos by calling 770.396.2200.