USA Stimulis Act and Film Investing - A Must read

[DjfunkmasterG]

"In the governments’ stimulus package – according to the Jobs Creation Act Section 181, those who invest in films are allowed to “write off” their investment. In short, the money is not taxable, allowing you to claim fewer taxes at the end of the year. It was set to expire Jan '09, but we are fortunate that it is now extended until Dec '09. This gives investors a 100% tax deduction of the funds they put into principle production" So basically U.S. based filmmakers could use this as fuel to help get investors to jump in on their films. Gary

[GingeUK]

That's excellent news for you guys over the water. It's just a shame our British Goverment closed that little loop hole a few years back. Now I wonder if I can wrangle up some American investors instead...

[DjfunkmasterG]

Worth a try... I didn't see anything that the film had to be shot on American Soil, but you may want to contact someone to have them look into that.

[GingeUK]

After a little digging I found this: "For a production to be eligible, at least 75% of the total compensation must be for services performed in the United States by actors, directors, producers, and other production personnel. " Best find myself some American crew and locations if I am able to find an investor! Why the British and European governments chose to close this loop hole I have no idea. Probably to try and stop Uwe Boll continuing to make films

[bassman]

Pretty cool for you filmmakers. Apparently Georgia now has some awesome benefits for filming in the area. There are about 8 productions that have been filming in Atlanta recently. Two of which are Halloween 2 and Zombieland. I'm kinda pissed that I missed the Zombieland filming...

[GingeUK]

Double post - bloody laptop. Sorry