tax Incentives
- receive credit 45 days from audit
- no brokers, eager buyers
- no application or registration fees
- no state income tax,
very business-friendly taxes - one office, one contact, easy application
incentive process
submit an applicaion
Prior to the start of principal photography
public hearing
Application documents are public record
film in nevada
Project must be complited within 18 months
audit
Submitted within 270 days of project completion
credit issued
Must be used within 4 years of issuance
Incentive
Above the Line Labor
15% Resident, 12% Non-Resident
Below the Line Labor
15% Resident, 0% Non-Resident
Production Costs
15%
Bonus
Bonus 1
Below the Line NV Resident 5%
Bonus 2
Rural County Location 5%
Incentive Details
15% of the cumulative qualified production costs
15% on wages, salaries, and fringe benefits to all NV resident personnel
12% on wages, salaries, and fringe benefits to non-resident above the line personnel
Project Criteria
Qualified production costs in NV must be greater than $500,000
At least 60% of the production budget, including pre-production, production, and post-production, must be incurred in Nevada as qualified direct production expenditures. However, if all post-production will be completed outside of Nevada, then post-production expenditures can be withheld from the 60% calculation
Bonus 1
Plus 5% of the cumulative qualified production costs if greater than 50% of below the line crew are NV residents (not including extras; calculated by number of workdays worked)
Bonus 2
Plus 5% of the cumulative qualified production costs if greater than 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 less than $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
What Qualifies
Pre-production, production, and post-production expenditures, including, but not limited to, compensation and wages to residents and non-residents and purchases and rentals of tangible personal property or services from a NV business
Compensation Caps
Compensation to all NV resident producers must be 10% or less of the total qualified expenditures
Compensation to all non-NV producers must be 5% or less of the total qualified expenditures
Per individual/loan-out corporation caps at $750,000
Project Caps
$6,000,000 per production
Program Funding Cap
$10,000,000 in program funding; contact the office for current availability
Company Registration
Must register with Film Nevada
Loan-Out Withholding
None
Loan-Out Registration
Not required
CPA Audit
Required from an approved CPA by the Nevada Film Office
Getting Started
Submit completed application
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
Summary budget (including costs incurred outside of NV)
Insurance certificate for at least $1 million in general liability
Proof of Worker’s Compensation Insurance
Summary budget (including costs incurred outside of NV)
Commencement of principal photography must begin no later than 90 days after the application is approved
Claiming Incentive
All accountings and other required documentation must be submitted not later than 270 days after completion of the qualified production
Production must be completed within 18 months after the commencement of principal photography
CPA audit required
Producer must elect type of qualified taxes to which the credit will be applied
