Production Incentives Database

A financial review by a CPA licensed by the Commonwealth is required.

Submit an application to the Virginia Film Office at least 30 days prior to the beginning of production; include a copy of the script, production budget and the proposed production schedule. Applicants must enter into a memorandum of understanding with the Virginia film Office. The project must go into pre-production within 90 days of the application’s approval.

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
days

Upon completion of the production submit the required documentation to the Virginia Film Office; if satisfied, the Film Office will send a Certification Letter indicating the tax credit amount; file a Virginia income tax return with required documentation in order to receive the tax credit payment.

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

Bonus
20% of the total aggregate payroll for Virginia residents when the total production costs in the Commonwealth are at **least $1 million**

Bonus
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.