Photo Source: ABC
The state's Film & Television Tax Credit Program, which was extended last year through July 2013, was designed to incentivize production in California for film and TV programs that were based out of state. In other words, to halt so-called "runaway production."
In fact, one of the most generous credits is available for television series that filmed all of its prior seasons outside of California. Among the program's success stories is ABC's "Body of Proof," which was lured to Los Angeles from Rhode Island for its second season by the tax credit program, Amy Lemisch, CFC's executive director, recently told Back Stage.
Applications for next year's credits, which total $100 million, will be accepted by the CFC starting June 1. A tax credit of 20 percent is available for films budgeted at $1 to $75 million, movies of the week or miniseries with at least a $500,000 budget, and new cable TV series licensed for original distribution. Some of the credits may be transferred or sold to another party, but credits applied to income tax liability aren't refundable. More information is available at CFC's website.
This is the program's third year. Legislation extending it through 2020 is currently working its way through the state Legislature. Opponents of the program call it a giveaway to studios already planning to film in California.
