Georgia May Increase Film Tax Credits to Boost Georgia's Film Industry

There are over 30 movies and TV shows currently filming in Georgia. Now, new legislation could transform Georgia's film industry and make it the number one filming location in the world. According to reports, a new tax credit has cleared the Georgia House of Representatives last Friday, which would allow for film and TV post-production companies to receive a higher film tax credit. From Biz Journals (emphasis my own):
The bill, which passed 158-3 and now moves to the state Senate, would provide a 20-percent tax credit for post-production companies that have a Georgia payroll of at least $250,000 and spend at least $500,000 during a taxable year. The credit would increase to 30 percent if the production is created exclusively in Georgia.
However, the new legislation does have some stipulations. For example, The credit will be capped at $5 million this year, $10 million next year and $15 million from 2019 to 2022. In addition, no single company will receive more than 20% of the total statewide tax credit. That said, with Disney unofficially calling Georgia home for all of the next upcoming Marvel Studios films, this new tax credit has the opportunity to create more film jobs in Georgia. This news comes after Atlanta's mayor announced a plan to increase taxes to help support the arts in Atlanta. If you're interested in a job Atlanta's film industry, check out the latest film jobs here. What do you think? Discuss this story with fellow Project Casting fans on Facebook. On Twitter, follow us at @projectcasting.