| NEW Alaska Film Production Incentive Program
On 5/19/2009: Lieutenant Governor Sean Parnell filed regulations (993-08-0170) from the Department of Commerce, Community, and Economic Development re: Film Production Tax Credit Program (3 AAC 188). The effective date of the regulations is 6/18/2009, and the regulations will be published in Register 190, July 2009.
On 5/6/09: The Department of Law has completed its final review on Alaska’s Film Production Incentive Program regulations and has filed them with the Lt. Governor’s Office. The regulations will become effective 30 days after the Lieutenant Governor signs the adoption order. Check here for updates on the signing and the effective date of the regulations.
Regulations Filed in Lt. Governor’s Office
Proposed Regulations_4 9 09_Not Final
Supplement Notice of Proposed Changes in the Regulations, DCCED
Proposed Regulations for the Alaska Film Production Incentive Program
Public Comment Instructions for Proposed Regulations
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 continues work with the Alaska Department of Revenue and Alaska Department of Law on this process as expeditiously as possible. In the meantime, producers can call for an application to apply for a notice to pre-qualify for the tax credit.
However, productions that are pre-qualified during the regulations process must be aware that ultimate qualifying spending criteria may differ than what can be inferred from statute. Any production company incurring expenses while the regulations are still being vetted does so under the assumed risk that expenses believed to qualify for a tax credit may not.
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
Additional Information
Pre-Qualification Application
Alaska Film Office
907-465-5478
alaskafilm@alaska.gov
|
