Transferable Tax Credit

for Film and Other Productions

Effective: January 1, 2014

Incentive

Bonus

ATL15% Resident, 12% Non-ResidentBonus 1 NV Resident 2%
BTL15% Resident, 12% Non-ResidentBonus 2 Location 2%
COSTS15%  

Incentive Details

Incentive

Transferable Tax Credit

  • 15% of the cumulative qualified production costs
  • 12% on wages, salaries, and fringe benefits to non-resident ATL personnel
  • 12% on wages, salaries and fringes for non-resident BTL personnel through December 31, 2015 (reduced to 10% in 2016, and 8% in 2017)

Bonus1

Plus 2% of the cumulative qualified production costs if BTL residents > 50% of total BTL

Bonus2

Plus 2% of the cumulative qualified production costs if > 50% of the filming days occurred in a NV county in which in each of the two years immediately preceding the date of application, qualified productions incurred < $10 million of direct expenditures

Carry Forward

Credit expires four years after tax credits issued

Transfer Rules

Must notify State prior to any transfer and before expiration date

Project Criteria

  • Qualified production costs in NV >= $500,000
  • total qualified production costs, including pre-production and post-production, incurred in NV >= 60%

What Qualifies

Pre-production, production, and post-production expenditures, including, but not limited to, compensation and wages to residents and non-residents and purchases of tangible personal property or services from a NV business on or after the date in which the applicant submits an application

Compensation Caps

  • NV resident producer compensation must be <= 10% of NV expenditures
  • Non-resident producer compensation must be <= 5% of NV expenditures
  • Per individual/loan-out corporation <= $750,000

Project Caps

$6,000,000 per production

Annual Funding Caps

$20,000,000 per calendar year; tax credits remaining may be carried over to the following two years

Application Approval

Four years: January 1, 2014 through December 31, 2017

Company Registration

Must register with the Nevada Film Office

Loan-Out Withholding

None

Loan-Out Registration

Not required

CPA Audit

Required from a CPA licensed in NV

Getting Started

  • Must apply on or before December 31, 2017, and no earlier than 90 days prior to the start of principal photography or development; proof that the project is in the economic interest of NV
  • proof of project financing in place; script, storyboard or synopsis
  • names of producer, director, proposed cast, estimated timeline to complete the qualified production
  • detailed budget (including costs incurred outside of NV)
  • insurance certificate for > $1 million in general liability
  • NV business address for producer
  • proof of Worker's Compensation Insurance
  • proof of all required business licenses for each location.

Claiming Incentive

  • All accountings and other required documentation must be submitted not later than 30 days after completion of the qualified production
  • production of the qualified production must be completed within one year after the commencement of principal photography
  • CPA audit required
  • producer must elect type of qualified taxes to which the credit will be applied

Crew Base

Nevada Production Directory available in print and online

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