I am signing this petition in support of an amendment to the CT Film Tax Credit law which would allow in-state resident filmmakers to be eligible for the full 30% tax credit, upon incurring production expenses greater than $250,000. The current law requires expenses to exceed $1,000,000 for the full 30% tax credit. Lowering the limit to $250,000 will help create more permanent in-state filmmaking jobs and help give graduates of the CT Film Industry Training Program real world experience. The lower limit helps local independent production companies continue to build the local filmmaking industry.
Below is the language I support:
For income years commencing on or after January 1, 2011, any eligible production company, managed by an in-state resident filmmaker (i.e., producer, director, writer), incurring production expenses or costs of not less than two hundred and fifty thousand ($250,000), shall be eligible for a credit against the tax imposed under chapter 207 or this chapter equal to thirty per cent (30%) of such production expenses or costs.
Petition for CT Film Tax Credit Amendment for Resident Filmmakers
Greetings,
As a resident of Connecticut, I have signed this petition indicating my support of an amendment to the CT Film Tax Credit law which would allow in-state resident filmmakers to be eligible for the full 30% tax credit, upon incurring production expenses greater than $250,000. The current law requires expenses to exceed $1,000,000 for the full 30% tax credit. Lowering the limit to $250,000 will help create more permanent in-state filmmaking jobs and help give graduates of the CT Film Industry Training Program real world experience. The lower limit helps local independent production companies continue to build the local filmmaking industry.
Below is the new language we recommend be amended to the current law:
For income years commencing on or after January 1, 2011, any eligible production company, managed by an in-state resident filmmaker (i.e., producer, director, writer), incurring production expenses or costs of not less than two hundred and fifty thousand ($250,000), shall be eligible for a credit against the tax imposed under chapter 207 or this chapter equal to thirty per cent (30%) of such production expenses or costs.
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