12/21/06 Update from Axium:
An increased incentive of up to 24% is available, using a combination
of state and private funds. The 15% state rebate is capped at $5 million
for the year; the 9% private tax credits are not limited. Interested producers
should contact Jill Simpson, Commissioner, at 800-766-3456 or via email
at jill@oklahomafilm.org.
Oklahomaís new production incentives provide a rebate of 15% of qualified
expenses if 50% or more of the cast and crew is from Oklahoma, or 10% if
between 25% and 50% of the crew are residents of the state. This requirement
is waived for budgets in excess of $30 million. To qualify, budgets must
be at least $2 million, of which $1.25 million must be spent in Oklahoma.
Oklahoma ìExpatriatesî ? former Oklahomans now residing elsewhere, who
register with the state ? qualify for the $1.25 million.
A total of $5 million dollars has been appropriated. The rebate is
payable on or after July 1 following the fiscal year in which documented
expenditures were made. A domestic or foreign release is required within
one year of the completion of principal photography. If a film is not bonded,
no rebate money will be released until evidence is provided that all Oklahoma
crew and vendors have been paid along with evidence that there are no liens
against the production company in the state of Oklahoma.
Alternatively, a point-of-purchase (ìPOPî) tax exemption of 4.5% is
available, but producers must choose either the incentive rebate or the
POP exemption, which does not have a budget or expenditure requirement.
Additionally, a tax credit of 25% of profits is provided if profits
are reinvested in another Oklahoma production. This credit is not assignable
and not transferable.
A comprehensive production guide is available online.
Sales tax exemption on sales of tangible,
personal property or services to a motion picture or television production
company to be used or consumed in connection with a feature or television
production.
A rebate program
provides up to 15% of eligible costs for film production in the state if
an income tax return is filed there.
The total payments will not exceed $2 million per fiscal year.
State sales tax rebate on hotel stays after 30 days.
Incentive
information
Oklahoma Film and Music Commission
Jill Simpson, Director
email: jill@oklahomafilm.org.
Toll Free ? (800) 766-3456
Film
office
Film
and Video Production Guide
Oklahoma Film Commission
Oklahoma City Office
15 N. Robinson Suite 802
Oklahoma City, OK 73102
Phone: 1-800-766-3456
In Oklahoma City: 405-522-6760
Fax: 405-522-0656
Incentives:
Oklahoma
Film Enhancement Rebate Program
Oklahoma offers a 15% rebate on production money spent in state.
Qualifying expenses include costs attributable to production, post-production
and reproduction of long-form narrative film or television production.
Expenditures must be documented.
The rebate is refunded to the producers.
Sales Tax Rebate
As an alternative, production companies shooting in Oklahoma
can apply for a refund of state and local sales taxes.
The rebate is applicable to all goods and services used or consumed
on almost any project shot in-state.
The stateís current sales tax is 4.5%. Local taxes, which vary from
city to city, average between 1% and 4%.
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FROM
HTTP://VARIETY.COM 4/25/05
Tax
incentives get the OK
Senate Bill 877 extends benefits currently offered
Ý By BASHIRAH MUTTALIB
Oklahoma's legislature has entered the incentives race, passing a bill
providing tax credits to qualifying state-based film and music production
companies.
"It creates a new dynamic for an industry that we have been developing
for the last 20 years," said House Speaker pro tempore Susan Winchester,
who co-authored the measure.
Senate Bill 877 extends benefits currently offered through the Oklahoma
Tourism Development Act to film and music companies, allowing them to choose
between an income tax credit or a sales tax credit. Eligible companies
investing between $500,000 and $1 million would receive a 10% tax break;
those investing $1 million or more would qualify for a 25% tax credit...........READ
MORE
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Film
industry in search of solid funding source
Originally published in the Claremore Daily Progress on Wednesday,
June 23, 2004
By Jeff Packham
"Oklahoma may not be the name that comes to mind when one thinks
about Hollywood, but one legislator is hoping to capitalize on the stateís
recent interest in the film industry to promote Oklahoma as a site for
future production.
Rep. Susan Winchester, R-Chickasha, has proposed an interim study to
look at possibilities of finding a dedicated revenue source to provide
incentives for bringing film production to Oklahoma."....................READ
MORE