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April 26, 2017

Governor signs bills fostering entertainment production & arts in Georgia

Post Production Tax Credit

With the success of the entertainment tax credit, policymakers are doing more to incentivize growth of the industry in Georgia. The Georgia Entertainment Industry Investment Act, (HB 199) provides a 20% tax credit to post-production companies .  The companies must have at least a $250,000 payroll in Georgia and spend at least $500,000 in a given year to qualify.

The new credit is capped at $5 million in 2018, maxes out at $10 million in 2019, and then $15 million from 2020 to 2011.  And, no single company can capture more than 20 percent of the total in each year.  

The legislation sponsored by Rep. Trey Rhodes (R-Greensboro) and Sen. Larry Walker (R-Perry) and signed by Governor Deal applies to television, film, video gaming and other digital projects undertaken in Georgia.   Post-production includes editing, adding sound effects or music and any computer-generated imagery (CGI) or special effects.   The intent of the legislation is to attract and retain a full range of entertainment enterprises as well as job seekers who are trained and certified in these fields of study.

Arts Venues Sales Tax Exemption

Governor Deal also signed a measure which exempts certain arts venues from state and local sales taxes undergoing expansion or renovation.  Specifically, House Bill 265 exempts sales taxes on building materials for non-profit organizations containing an art museum, symphonic hall and theater.   The legislation also includes a three-year sales tax exemption on admissions tickets for fine arts performances or exhibitions for 501(c)(3) organizations as well as museums providing culturally significant programming.

Atlanta’s Woodruff Arts Center which is currently undergoing renovation to its performance venues would qualify for the exemption.   The tax break is capped at $750,000 and is applicable from July 1, 2017 until January 1.2019.  Rep. Chuck Efstration (R-Dacula) and Sen. Butch Miller (R-Gainesville) sponsored the bill. 

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