House Bill Supports Georgia Post Production
House Bill 199, which aims to grant additional tax credits to companies specializing in the post production aspect of filmmaking, was cleared by the Georgia House of Representatives in February.
The bill passed with a remarkable 158-3 in favor of the incentives. HB 199 would provide a 20% tax credit for any post production company that has a minimum of $250,000 in Georgia payroll records, and that spend at least $500,000 per tax year. In the circumstance that a production is exclusively created in Georgia, this tax credit would increase to 30%. This however, does include a credit cap of $5 million this year, $10 million the following year, and then $15 million between 2019 and 2022, and a maximum of 20% of the total statewide available credit per company.
HB 199 comes after a huge increase in production following the tax break passed in 2008. However, there has been a need for breaks in the post production aspects of the entertainment industry that has created outsourcing instead of Georgia exclusivity. HB 199 will also be beneficial for video game companies that qualify, another industry that has been growing in Atlanta.