does anyone have any experience using tax credits to fund independent films?
Financing / Crowdfunding : Tax credits by JamesJulian Castillo
Tax credits
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Yes. You still need investors. And the tax credit situation changes almost literally every day.
James, there are companies who will advance the funds expected from the tax credits for a fee (around 15% of the amount they loan seems average) but as Shadow pointed out, they will not be "first in". You will still need equity investors or another source. Also, tax credits are based on what you spend in that particular state (usually) and are only a percentage of the total spend. In Oklahoma for example, you get back 35% of what you spent in the state, in my experience about 90 days after you wrap production and complete all the paperwork.
Thank you both! Do you know if there are case studies on film tax credits? What about tax write-offs?