15-40% Refundable Tax Credit/Rebate or Grant
Resident ATL/BTL: 25-35%
Non-Resident ATL/BTL: 15%
Minimum Spend: $250K (tax credit); None (grant)
Project Cap: None
Compensation Cap: First $1M counts as qualifying spend
Minimum Filming Days: 50% on principal photography
15% on qualified expenditures including, but not limited to:
Labor (resident and non-resident)
Workers Comp/Handing Fees
Travel (in-state and out-of-state)
Shipping (in-state only)
Wrap Party/Crew Gifts
Expenses must be paid for in the state of VA.
5% tax credit if filming in an economically distressed area.
10-20% tax credit on payroll for VA residents.
10% tax credit for each first-time film industry employee.
Annual Cap: $6.5M (tax credit); $250K (grant)
Sunset Date: December 31, 2018
Screen Credit: Yes
CPA Audit: Yes
Loan-out Registration: Yes
Production must be fully funded with a multi-market distribution contract.
Applications must be approved before the start of principal photography. Must go into pre-production within 90 days of approval.