Pennsylvania keeps tax advantage
Pennsylvania Governor Tom Corbett’s new state budget signed on Jun 30 has backed the Pennsylvania Film and Television Production Tax Credit programme, which remains fully funded at $60m.
Pennsylvania offers a 25% tax credit for in-state production expenses as well as an additional 5% if the production is shot at Sun Center Studios. The budget means filmmakers can benefit from current awards for the next three years.
The facility opened two years ago outside Philadelphia. The studio and media company has recently been involved with productions from the likes of Philadelphia natives Will Smith and M Night Shyamalan on After Earth, as well as Jack Reacher, Silver Linings Playbook [pictutred] and upcoming release Paranoia.
“We are thrilled that the Governor and state legislature have renewed their commitment to and confidence in Pennsylvania’s film industry,” said svp of Sun Center Studios Adam Rotwitt.
Pennsylvania’s tax incentives for film and television production began in 2004. Sun Center Studios became the first facility in the state to offer an extra 5% tax credit, making it a Qualified Production Facility.