make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Film incentives bill includes post-production

It's a bill that's been credited with bringing millions of dollars to our area. The Film Incentives bill gives tax credits to TV and movie productions. Wednesday, the State Department of Revenue made some important clarifications to the bill that may mean even more business. Proponents of the legislation say it's an another small victory for the film industry. The Department of Revenue announced that the state 15 percent tax credit for movie production now includes post-production. According to industry executives, the new interpretation of the bill will lure the post-production end of the movie business to the state. That means giving tax credits for visual effects, music and editing costs. Senator Julia Boseman sponsored the bill that was enacted two years ago. She says post-production tax breaks will keep much needed jobs in our local economy. "It's so important to keep these jobs in North Carolina and anything that we can do to promote jobs and promote the film industry and bring money in to the state is a good thing for North Carolina," Senator Boseman said. The department of revenue says the tax break does not include expenses related to distribution and marketing of a film but it does apply to pre-production work, like expenses incurred before filming begins.

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.