IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2011 | Removal date: 01 Jan 2022
Still in force

Tax or social insurance relief

On April 11, 2010 the governor of Virginia signed into law a bill (H861, now chaptered as Article 13 of Chapter 3 of Title 58.1) establishing a motion picture production tax credit. It provides that, effective January 1, 2011, any motion picture production company with qualifying expenses of at least $250,000 with respect to a motion picture production filmed in Virginia shall be allowed a refundable credit in an amount equal to 15 percent of the production company's qualifying expenses or 20 percent of such expenses if the production is filmed in an economically distressed area of the Commonwealth.

As originally enacted, the credits were available only through January 1, 2019.  On February 21, 2017 the governor of Virginia signed into law a bill (H1665) that extended the sunset date of the motion picture production tax credit to January 1, 2022.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

961 Audiovisual & related services

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