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Investments

 

FILM AND MEDIA TAX CREDIT

Frequently Asked Questions

Q: What is the Film and Media Tax Credit? 

A: The Film and Media Tax Credit provides an incentive to members of the creative economy to make qualified media productions in Indiana. The incentive, established by Indiana Code § 6-3.1-36, offers an income tax credit, up to 30%, that can be applied to offset certain production expenses.  

Q: What types of projects can qualify for the Film and Media Tax Credit? 

A: The credit is available to just about every type of production you can think of. That includes: 
  • A feature length film, including independent or studio production, or a documentary 
  • A television episodic series, program, or feature
  • A music production
  • A digital media production that is intended for reasonable commercial exploitation 
Q: How much of a credit can my project qualify for? 

A: The tax credit, established by Indiana Code § 6-3.1-36, offers an income tax credit, up to 30%, that can be applied to offset certain production expenses. 

Q: Who qualifies for the Film and Media Tax Credit?  

A: Qualified applicants are persons, corporations, limited liability partnerships, limited liability companies, or other entities that are engaged in the business of making a qualified media production in Indiana. 

Q: When and where can I apply for the credit? 

A: Applications may be approved on a rolling basis from August 5, 2022 until December 31, 2022. 
 

Q: Which expenses are qualified? 

A: Generally, expenses for acquisitions, filming and sound, labor, and story rights are qualified; a full list of qualified expenditures is forthcoming.  

    Q: How is the tax credit calculated?  

    A: The value of the credit is calculated by multiplying the qualified production expenses by a percentage not to exceed 30%. Eligible applicants may be awarded a credit up to 20% with the option for an additional 5% added for each of the following qualifiers: 
    • Using Indiana-based workforce during, pre-, and post- production 
      • Twenty (20%) percent of the overall workforce must be from Indiana to qualify, including student and intern staff
    • Adding an IEDC-approved Indiana brand to the qualified production’s credits 
    Q: Is there a project cap or sunset period? 

    A: This round of applications is capped at $5,000,000 for Fiscal Year 2022–2023

    Q: Is the credit refundable or transferable? 

    A: The Film and Media Tax Credit currently offers a non-refundable and non-transferable tax credit of up to 30% of the qualified expenditures. 

    Q: Besides this credit, why should my production choose Indiana? 

    A: Compared to other states, Indiana offers a low cost of living for lodging, transportation, housing, food, etc. Our state’s terrain is extraordinarily diverse—lakes, rivers, fields, farms, rolling hills, sand dunes, lush forests and so much more. The Indianapolis International Airport is consistently ranked as the best in the nation. And we’re centrally located in the U.S. and close to other major metropolitan areas such as Chicago, Louisville, and Nashville.  

    Q: What if I need talent and equipment? 

    A: We’ve got you covered! There are more than 600 production-related film and media small businesses. Need some music gear? Sweetwater Sound is located in Northern Indiana. Or maybe you want to hire some musicians? Indiana is home to some of the most diverse music labels in the country, such as Jagjaguwar, Joyful Noise, and Absorb. Lastly, Indiana is home to top-ranked media schools and 19 universities have film and/or media programs. 

    Q: Who do I contact with any questions?

    Please contact fmtc@iedc.in.gov.

    How can we help?

    Whether you're starting up or expanding...Indiana offers the perfect environment for exploration, experimentation and research. Connect with one of our business development experts and be a part of solving the globe's most important challenges in a state that works.

    contact-iconBusiness Expansion Specialist

    BrockHerr-opt
    Brock Herr,
    Senior Vice President
    Business Retention, Expansion & Attraction

    317.503.6631
    BHerr@iedc.IN.gov