Media and Entertainment Tax Credits
More than 40 states have lucrative tax credit programs designed to attract the business of production, distribution and other media companies.
CohnReznick’s tax credit professionals are well-versed in the intricacies of these incentive programs, including the compliance requirements and ways to realize maximum benefits. With an in-depth knowledge of federal and state tax codes, we help producers and studio executives assess the tax implications of potential production locations, develop strategies to maximize tax benefits, implement a compliance program, and monetize the credits. Our services include:
- Pre-production tax planning: In conjunction with state economic development agencies, we analyze production schedules for tax implications, create and review project budgets and develop strategies to maximize available incentives. We then provide comparisons of jurisdictions and recommend production locations.
- Production and post-production support: We help media companies complete applications for tax credit eligibility. We then monitor production schedules to maximize tax incentives, conduct agreed-upon procedures and cost report audits, prepare cost certification reports and help monetize tax credits earned.