25% Refundable/Transferable Credit
Minimum Spend: $50k
Minimum filming days: 50% of principal photography (or 50% of budget)
Project Cap: None
Compensation Cap: For productions shooting less than 50% in-state and/or production expenses in MA are less than 50% of the total, there is a $1M cap per individual, and production only qualifies for the 25% payroll tax credit.
25% on qualified expenditures including, but not limited to:
Labor (resident and non-resident)
Art, set dec, wardrobe
Car and truck rentals
Bonus: Sales Tax Exemption available for qualified projects
Bonus: in-state and out-of-state rentals and purchases on items directly utilized in the production both qualify. No brokering needed.
Annual Cap: None
Sunset Date: January 1, 2023
Screen Credit: Yes
CPA Audit: Yes
Carry Forward: 5 Years
Loan-out Registration: Yes
Massachusetts offers .90 on the dollar if cashed out directly with the state.
All resident and non-resident personnel, including Loan Outs, have Income Tax Withholding @ 5.1%
Filing for the Sale Tax Exemption should take place 10 days to 2 weeks before expected major spending in MA on the specific production. Note: the date the Sales Tax Exemption begins is the beginning of the 12 consecutive month qualifying period.
Webisodes are eligible on a case by case basis.