Illinois Film Office Tax Credit

The credit may be claimed upon completion of production in illinois but no later than two years following the completion of production in illinois.

Illinois film office tax credit. Tax credit can be carried forward 5 years from when originally issued by illinois film office department of commerce and economic opportunity. Contact us for expert assistance on locations housing and tax credit to help make your creative vision a. The state of illinois offers a 30 transferable tax credit for qualified productions. Illinois is home to a thriving film industry with a nationally renowned crew base actors and industry vendors.

The tax credit will be issued upon ifo s verification of all costs submitted by an independent certified public accountant cpa the attestation must be approved by ifo prior to the commencement of the engagement and verification that the applicant has met or made good faith efforts in achieving the goals of their diversity plan. Illinois offers a robust and sustainable 30 film tax credit. The following are the rules and requirements for the illinois film tax credit. An illinois vendor is an entity that provides goods and services to the applicant and is domiciled in the state.

The production is eligible for an additional 15 tax credit on illinois labor expenditures for employees who live in an area of an area of high unemployment and earned a minimum of 1 000 on the production. 30 credit on illinois salaries up to 100 000 per worker. Illinois production spending includes tangible personal property and services purchased from illinois vendors and compensation paid to illinois resident employees. The illinois film tax credit is currently scheduled for legislative renewal in 2026.

Besides dick wolf the main beneficiary of illinois film tax credit program is a clout heavy complex called cinespace chicago film studios. From july 2017 to july 2018 cinespace received 8. For more information about the film incentive program please contact the illinois film office. 3 400 chicago il 60601 website.