RALEIGH, N.C. (AP) -- The Department of Revenue says North Carolina's 15 percent tax credit for movie production completed in the state does indeed apply to post-production work.
North Carolina Film Office chief Aaron Syrett says he believed the tax break didn't apply to post-production work. He says denying the incentive for such work would cost North Carolina film companies jobs.
Today, the revenue department posted a rewritten version of its online guide to the tax credit. The department says the credit applies to post-production and pre-production work, so it also covers expenses incurred before filming begins.
The department says the tax break doesn't cover expenses related to distribution and marketing of the film.
The state's initial effort to boost its film-making incentive to 15 percent was a bust because it failed to account for North Carolina's almost seven percent corporate income tax. A revised law that took effect in January fixed the problem.
(Copyright 2007 by The Associated Press. All Rights Reserved.)