Film Tax Credit Information
On this page find information and instructions for claiming the Film Tax Credit (use code 133 if the credit is for a Qualified Interactive Entertainment Production Company)
- Tax Credit Code: 122
Information
Summary
Production companies which have at least $500,000 of qualified expenditures in a state certified production may claim this credit. Certification must be approved through the Georgia Department of Economic Development (DECD). The credit is equal to 20 percent of the base investment in the state, with an additional 10 percent for including a qualified Georgia promotion in the state certified production. There are special calculation provisions for production companies whose average annual total production expenditures in this state exceeded $30 million for 2002, 2003 and 2004.
How to Claim this Credit
This credit may be claimed against 100 percent of the production company’s income tax liability, while any excess may be used to offset the production company’s withholding taxes.
To claim the credit against withholding, the production company must file Form IT-WH as provided in Revenue Regulation 560-7-8-.45. The production company also has the option of selling the tax credit to a Georgia taxpayer. For projects certified by DECD on or after January 1, 2021, that exceed $2.5 million in credit, the production company must apply and receive an audit under O.C.G.A. § 48-7-40.26 and Revenue Regulation 560-7-8-.45 before the credit is claimed or utilized in any manner. For projects certified by DECD on or after January 1, 2022 that exceed $1.25 million in credit, the production company must apply and receive an audit under O.C.G.A. § 48-7-40.26 and Revenue Regulation 560-7-8-.45 before the credit is claimed or utilized in any manner. For projects certified by DECD on or after January 1, 2023, the production company must apply and receive an audit under O.C.G.A. § 48-7-40.26 and Revenue Regulation 560-7- 8-.45 before the credit is claimed or utilized in any manner.
Forms
Form IT-WH Notice of Intention to Claim Withholding Benefit
GTC Instructions/Videos
Report Film Tax Credit and/or Request Film Tax Audit
Add Access to a Withholding Film Tax Account
File a Withholding Film Tax Return
Claim Withholding Reported on the G2-FP and the G2-FL
Register a New Business - Withholding Film Tax
Submit a Film Tax Electronic IT-TRANS
Instructions for Production Companies
Submit a Post Production Film Tax Credit (Video)
Film Tax Credit Registration and Reporting Webinar (Video)