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Business Development
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The Film Production Company Investment Tax Credit applies to eligible claimants who establish a film production company in Wisconsin. An "Eligible Claimant" for the Film Production Company Investment Tax Credit means a person who does business in Wisconsin as a film production company. "Person" includes natural persons, fiduciaries, and corporations, unless the context requires otherwise. A "Film Production Company" is defined as an entity that creates films, videos, electronic games, broadcast advertisements, or television productions, not including the productions specifically excluded under the definition of "Accredited Production" used for the Film Production Services Tax Credit. An Eligible Claimant may claim as a credit against individual and corporate income and franchise taxes, for the first three taxable years that the claimant is doing business in Wisconsin as a film production company, an amount that is equal to 15% of the following that the claimant paid in the tax year to establish a film production company in Wisconsin: 
The purchase price of depreciable, tangible personal
property,
such as business equipment or vehicles. The claimant must
purchase the tangible personal property after December 31, 2007, and at
least 50% of the property's use must be for the claimant's business as
a film production company.
The amount expended to acquire, construct, rehabilitate,
remodel,
or repair real property. A claimant may claim a credit for an
amount expended to construct, rehabilitate, remodel or repair real
property, if the claimant began the physical work of construction,
rehabilitation, remodeling or repair, or any demolition or destruction
in preparation for the physical work, after December 31, 2007, or if
the completed project is placed in service after December 31, 2007.
A claimant may also claim the credit for an amount expended
to
acquire real property, if the property is not previously owned
property, and if the claimant acquires the property after December 31,
2007, or if the completed project is placed in service after December
31, 2007.
"Previously Owned Property" means real property that the claimant or a related person owned during the two years prior to doing business in Wisconsin as a film production company, and for which the claimant may not deduct a loss from the sale of the property to, or an exchange of the property with, the related person as defined under the federal Internal Revenue Code. The Department of Commerce will consider whether all of the following are likely, in determining whether to issue a preliminary approval for establishing a film production company:
For more information about Wisconsin's film tax credit programs, contact Steve Sabatke, Economic Development Consultant, Bureau of Business Finance & Compliance, Wisconsin Department of Commerce, 201 West Washington Avenue, Madison, WI 53707-7970. Phone: 608/267-0762 Fax: 608/264-6151 Email: Steven.Sabatke@Wisconsin.gov |
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