| NEW Alaska Film Incentive Program
On June 4,
2008 Governor Sarah Palin signed SB230 into law, creating the Alaska Film
Office. The initiative provides a transferable tax credit for qualified
film production expenditures as an incentive to attract large scale film
production in Alaska.
The Alaska
Office of Economic Development has initiated drafting of regulations and will
work with the Alaska Department of Revenue and Alaska Department of Law on this
process as expeditiously as possible. The target date to complete the
Regulatory process is fall of 08’.
Incentive
Program Summary
- Must
spend at least $100,000 in a consecutive 24 month period.
- 30
percent transferable tax credit on qualified expenditures.
- Claim an
extra 10% for wages paid to Alaska residents.
- Claim an
extra 2% if filming in a rural area.
- Claim an
extra 2% if filming between October 1 and March 30.
- No salary
cap per employee per production.
The final
version of the bill signed by the Governor can be viewed at:
Text of SB 230
We
will have more complete information on the website soon.
Alaska Film Office
907-269-8100
alaskafilm@alaska.gov
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