|Incentive Type||Non-Transferable Refundable Tax Credit|
|Above the Line Residents||15-35%|
|Above the Line Nonresidents||15%|
|Below the Line Residents||15-35%|
|Below the Line Nonresidents||15%|
|Bonus||5% if the production is filmed in an economically distressed area of the Commonwealth|
|Bonus||10% of the total aggregate payroll for Virginia residents when the total production costs in the Commonwealth are at least **$250,000 but not more than $1 million**|
|Project Criteria||$250,000 minimum qualifying expenses; make a best effort to film at least 50% of principal photography in the Commonwealth.|
|Loanout Registration Required||No|
|Annual Funding Caps||$6,500,000 per fiscal year for Tax Credit/ $6,000,000 for Grant|
Where a motion picture production continues for more than one year, a separate application for each tax year the production continues must be made.
The Virginia Film Office will respond within 30 business
Motion Picture Opportunity Fund, a
check may be issued within approximately 30 days after
all documentation has been received and verified. In the
case of tax credits, the check is issued approximately 60
days after a Virginia state tax form has been submitted
20% of the total aggregate payroll for Virginia residents when the total production costs in the Commonwealth are at **least $1 million**
10% of the total aggregate payroll for Virginia residents employed for the first time as actors or crew members in connection with the production of a film in the Commonwealth
Compensation Cap: The first $1 million of salary, per employee, is considered a qualifying expense
The VA film office actually has a Grant and a Tax credit program. They follow extremely similar requirements. The Grant-The Governor's Motion Picture Opportunity Fund (GMPOF) offers discretionary grants to production companies and studios. For grant consideration the application must be submitted 30 days prior to the start of principal photography and the applicant must demonstrate that 100% of the anticipated financing is in place. In addition, a condition of receiving the grant is a joint public announcement between the production company and the Governor. The project must begin physical production within 12 months following application submission to the Virginia Film Office. The Biggest difference is the Grant does not require a minimum spend.
$6 million is available per biennium for the GMPOF.
There is yet another per employee bonus as well: Virginia Resident First-Time Industry Employee Credit- production companies may claim a credit equal to 10 percent of the total aggregate payroll for Virginia residents who are employed as first time actors or first time members of a production crew in connection with a production in Virginia. It must be the employee’s first time receiving compensation and wages as either an actor or as a member of a production crew on a film, ever, anywhere, and the employee must be a Virginia resident.
For goods with a purchase price of $25,000 or more, the amount included in qualifying expenses is the purchase price less the fair market value of the good at the time the production is completed.
Last updated: 05/13/2020
Production Incentive Disclaimer
The encapsulated production incentive information on this page is provided for general purposes only and should not be construed as tax advice. While we do our utmost to keep all information up to date, production incentives change often. The best source for incentive details is the film office itself. For more explanation or detail about the production incentive described here, please contact our resident production incentives expert at [email protected].