On Wednesday, November 23rd, Governor Mitt Romney signed the tax incentive bill that the Boston AFTRA/SAG office, along with numerous other industry members, have been working to enact in Massachusetts. The new law puts the Bay State in the spotlight as a competitive venue for motion picture and commercial production, and not surprisingly is already garnering interest from motion picture studios that would not otherwise have come to the Commonwealth. Upon hearing the news, Mary Ann Hughes, Vice President, Film Production Planning, Walt Disney Company commented "This law makes Massachusetts very competitive in attracting film and TV production. We look forward to doing business in Massachusetts."Read More
The new law will take effect in 90 days but will be retroactive to January 1, 2006. Its principal elements include a 20% tax credit on all Massachusetts source payroll, a 25% tax credit on qualified production expense in Massachusetts, and a sales tax credit for producers who spend a minimum aggregate of $250,000 per year in the commonwealth. The law is in place through the year 2013.
Wednesday, March 30, 2011
Flashback: Massachusetts Governor Signs Film/TV Tax Incentive Bill Into Law
I came across this article, and wanted to share the good news. If Mitt Romney ever decides to proceed with Mitt's Massachusetts, the producer stands to receive a generous tax credit - provided it's filmed in Massachusetts.