Anyone work with Tax Credits?

R

rhymeswithrunt

so in Illinois they have a 30% tax credit on any film/video work over 100k (50k for under 30minutes); with 45% salary returns for hiring from "low income" areas (this includes deferred pay, which is a nice way to pad the budget).

now I know TV and serials count, but I'm putting together a web show with a budget FAR under that (maybe 4-6k a week), my question is, if I group 25 episode budgets and call the production "Chicago Underground Season 1" can I legally say we spent 100k on the production? assuming we filmed all 25 episodes bulk and just released as we finished with post?

anyone know anything about this stuff?
 
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If you meet all the requirements you will qualify for the tax
credit. The goal is to create jobs in Illinois and to entice out
of state projects into the state. The are very, very careful about
who gets this credit. If you are actually spending 100k in the
state you can legally say you spent 100k in the state - even if
it’s spent over a 25 week period.

Before you apply, make sure you have everything in place. The
credit isn't a way to pad a budget, you will be reimbursed after
production is completed or quarterly for a 25 week production.
 
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