Tax break plans for Florida studios - MCV

Tax break plans for Florida studios

Unanimous support for entertainment industry credit in the sunshine state
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A bill has been unanimously passed in the Florida House of Representatives that aims to introduce state tax breaks for the entertainment industry.

Aimed largely at the film industry, the proposed tax breaks – if enacted as law – would also apply to the state’s game development industry.

Every single one of the 112 votes taken went in favour of the bill.

“Qualified productions” are proposed to receive a raise on tax credits, up to around 15 to 20 per cent, on in-state spending.

Studios working in Florida and able to take advantage of the breaks include Tiger Woods PGA Tour studio EA Tiburon, as well as the likes of Artificial Studios and n-Space.

Further credits of 5 percent are to be made available to titles developed off-season (June – November) and to titles that are “family-friendly”.

Previously, the breaks had only been intended for productions that fitted the family-friendly description of “(not exhibiting or implying) any act of smoking, sex, nudity, gratuitous violence, or vulgar or profane language.”

This was altered after taking heavy critisism, and now stands as a secondary credit.

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