OHIO TAX CREDIT
A recent change in Ohio law has raised the Ohio Motion Picture Tax Credit budget for the 2017 fiscal year and beyond. The entire amount of your spending in Ohio must be at least $300,000 to be eligible for tax credits and the total annual amount of tax credits available under the program will be $40 million.
Projects awarded tax credit eligibility prior to July 1, 2016 follow all guidelines under old law but projects awarded tax credit eligibility after July 1, 2016 will be subject to the following changes:
All eligible expenditures will be credited at 30%. Previously, eligible expenses were credited at 25% or 35%.
There is no per project cap. Previously, there had been a $5 million per project cap on tax credits.
Credits are refundable. They become transferrable as well.
It’s important to note that the $300,000 eligibility includes all post production work done within the state of Ohio! This is where OFG shines as a vital incentive to all productions that hope to make the Buckeye State a base for their project: utilizing the entirety of the Motion Picture Tax Credit, from pre-to-post, will benefit your production. OFG is the only facility in the region that harbors the talent, expertise, and capabilities to guarantee your project is met with Hollywood quality standards at midwest prices. Our goal is to collaborate and create, to make your production a success!