Nevada Has Film Tax Incentives!
This is an off-topic post, but if you have been reading my blog for some time, you will know that it's on an issue that is important to me: film incentives for Nevada. As I've previously written, Nevada was one of the few states in the country without tax incentives for companies that film their movies or television shows here. It's always been my opinion that the lack of these incentives has discouraged companies from filming here -- even when the action is set in Nevada.
Fortunately, that is all changing due to recent action from our legislature. The Nevada legislature recently passed SB 165, which was signed into law by Governor Sandoval on June 11, 2013. As a result, beginning on January 1, 2014, Nevada will offer tax credits to motion picture, television, and commercial productions that shoot at least 60% of their production here in Nevada and spend between $500,000 and $40 million in the state. Those companies are eligible to earn a transferrable tax credit worth 15-19% of their in-state qualified expenses. These "qualified expenses" include Nevada cast members, labor, crew members, and other Nevada expenditures.
I look forward to watching the film industry in Nevada grow with the advent of these incentives.