Refundable Tax Credit

North Carolina offers a 25% refundable tax credit. The 25% refundable tax credit is in effect for a single production who report the qualified expenses on their tax return beginning with the taxable year 2011.

SUMMARY OF NORTH CAROLINA REFUNDABLE TAX CREDIT

Incentive

25% refundable tax credit

Per Project Cap

$20 million (television series are not subject to per project cap)

Minimum Spend

$250,000

Annual Cap

No cap

Qualified Labor

First $1 million of each resident & nonresident qualify

Loan Out Withholding

Yes. 4%

Audit

North Carolina pays for the audit

Screen Credit Required

Yes

Qualifying Expenses

Goods / Services / Compensation & Wages / Production-Related Insurance / Fringes / Per Diems / Living Expenses & Stipends

Qualifying Productions

Feature Films / Direct-to-Video / Episodic Television Series / Movies of the Week / Television Mini-Series / Reality Television / Commercials / Documentaries / Animation Productions / Webisodes

Application

File Intent to Film online form prior to start of production

State-Owned Property

Fee-free usage

Sunset Date

January 1, 2015

Enacted Bill Numbers

H 1973 (SL 2010-147); H 713 (SL 2010-89); S847 (SL 2012-194)

 

Click here to download our information booklet and learn more about the 25% refundable tax credit