On August 6th, 2009, Peter Stathopoulos, Director of State & Local Tax at Bennett Thrasher PC, and Bernard Coleman, a partner with Womble Carlyle Sandridge & Rice, PLLC’s Corporate and Securities Group and leader of the firm’s Sports & Entertainment Practice, hosted a presentation on Georgia Film Tax Credits: How to Easily Reduce Your Georgia State Tax Bill. In addition to Peter and Bernard, Asante Bradford with the Georgia Film, Music & Digital Entertainment office spoke regarding recent developments with the tax credits. The event was held at the offices of Womble Carlyle in Atlantic Station.
The Georgia Entertainment Industry Investment Act of 2008 (the “Act”) expanded Georgia film tax credits, making Georgia a nationwide leader in attracting film productions to the state. Due to the new Act, a production company that films in Georgia can now get up to 30% of its budget in tax credits. These tax credits can be acquired by individuals and companies who are looking to reduce their state tax liability. With a purchase of Georgia film tax credits, an individual or company can reduce its Georgia tax bill by 10% to 20%.
To find out more information regarding Georgia film tax credits or to answer your State and Local tax questions, please email Peter Stathopoulos at pstathopoulos@btcpa.net or call him at 770.396.2200. |