Bill > H915

This bill reenacts the film production tax credit in North Carolina, which provides a 25% tax credit for production companies that spend at least $250,000 on qualifying expenses within the state. The credit applies to various types of productions, including feature films and episodic television series, and covers expenses such as goods and services, compensation, insurance, and per diems. The credit is capped at $20 million for feature films and cannot be claimed for political advertising, news programs, live sporting events, obscene content, or radio productions. Notably, the bill removes the previous sunset provision that would have ended the credit on January 1, 2015, effectively extending the program. Production companies must notify the NC Film Office of their intent to claim the credit and acknowledge both the state and regional film offices in production credits. Pass-through entities can claim the credit directly, and if the credit exceeds the company's tax liability, the excess can be refunded. The bill becomes effective for taxable years beginning on or after January 1, 2025, and applies to qualifying expenses occurring on or after that date.

Government Affairs

https://www.ncleg.gov/BillLookUp/2025/H915