When does a $330 million annual investment bring in a $2.6 billion return? Enter stage left: California’s Film and TV Tax Credit Program 3.0.
It may be something you’ve never heard of or thought about unless you’re connected to the industry, but the jobs created in film and television, down to restaurant or catering jobs, may be something that touches your life.
The California Film Commission administers the Film & Television Tax Credit Program 3.0 which provides tax credits based on qualified expenditures for eligible productions that are produced in California. The $1.55 billion program runs for 5 years, with a sunset date of June 30, 2025. Each fiscal year – July 1 to June 30 – the $330-million funding is categorized in: TV Projects, Relocating TV, Indie Features, and Non-Indie Features.
Colleen Bell, the executive director of the California Film Commission, joined Sonseeahray to talk about why the tax credit program is beneficial for the Golden State.