Wednesday, January 13, 2010
This is a photo of the paperwork I had to copy & complete to submit for Snowbate. Snowbate is a tax incentive program from the MN Film & TV Board & the State of MN. We had to go through a qualification process this past summer to get RILEY in the program & certified...We will receive a 15% tax rebate (ie: cash!) on monies spent in the state for our film production. It all has to do with job creation & retention & continuing to have money spent locally.
Nationally MN USED to have one of the best tax incentive programs out there, but not so much any more. Of the requested $25m for this program, they received $1m for 2009/2010. That is why you don't see many big budget Hollywood films being shot here any more (even if they are set here!). They're going to the states who offer more incentives (or other countries).
It might not mean a lot to you, but for those who are freelancers, production houses, rental houses, post-production houses, etc in the entertainment industry in our state, it means A TON. It has been a lot of work (right, Anna?) but ultimately it will be worth it. I hope all of our ducks are in a row. We could sure use our 15% back!