Virginia Tax Credits
Key Success Factors
Application
Must apply at least 30 days prior to production, and begin production within 90 days of approval. Must demonstrate best-faith effort to film at least 50% of principal photography in State.
Spend Requirements
$150,000 (excluding qualified non-resident labor)
CPA Audit Required?
Yes
Loan-Out:
Registration/
Withholding
Registration/
Withholding
Yes / No
Residency
Both residents and non-residents qualify
Program Limits
Production Cap
None
Program Cap
$6,500,000 (tax credit) / $4,150,000 (grant)
Payroll Cap
$1,000,000 per hire
Program Highlights
Tax Credit Type
Refundable tax credit / Discretionary MPOF Grant
Tax Credit Amount
15-40%
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