HB 360 -- Tax Credit for Qualified Film Production Projects

Sponsor:  Robb

For tax years beginning after January 1, 2008, this bill lowers
the minimum budget expenditure from $300,000 to $50,000 for a
qualified film production project less than 30 minutes in length
or $100,000 for a project longer than 30 minutes.  The bill
removes the individual credit cap of $1 million and increases the
overall cap for the credit from $1.5 million to $10.5 million.
The credit will be equal to 50% of the qualifying expenses for
the project not including wages for highly compensated
individuals.

The tax credit may be taken against individual and corporate
income tax, insurance premium tax, and financial institutions tax
liability.  The tax credit is not refundable, but can be carried
forward and claimed for up to five taxable years.

The provisions of the bill will expire six years from the
effective date.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am