280-20-20 R.I. Code R. § 5.6

Current through June 20, 2024

Section 280-RICR-20-20-5.6 - Overview

A. The process of applying for and receiving motion picture production tax credit certificates consist of the following steps:

1. The production company files an application for initial certification with the film office. (For details see § 5.7 of this Part)

2. The film office prepares an impact analysis based on information provided by the production company on its initial application. The analysis is available for public inspection and is posted on the Division of Taxation's website. (For details see § 5.8 of this Part)

3. The film office, following review and approval of the initial certification request, issues an initial certification notice to the motion picture production company and to the tax administrator. If the film office rejects an initial certification request, a written notification will be sent to the applicant. (For details see § 5.9 of this Part)

4. The production company notifies the film office in writing of the commencement of production. (For details see § 5.11 of this Part)

5. The production company, after completion of a production, files an application for final certification of the production with the film office and the Division of Taxation. (For details see §§ 5.7 and 5.9 of this Part)

6. The Division of Taxation makes a determination of the amount of tax credit based on its review of state certified production costs. (For details see § 5.13 of this Part)

7. The Division of Taxation, upon determination that the production company has complied with all necessary requirements, issues tax credit certificates to the production company. (For details see § 5.14 of this Part)

B. In addition, all recipients of motion picture production tax credits are required to file annual reports with the tax administrator, for the year they receive a tax credit, as follows:

1. Rhode Island Form TC-100 must be filed by August 15th. (For details see § 5.8 of this Part)

2. Rhode Island Form 8201A must be filed by September 1st. (For details see § 5.8 of this Part)

280 R.I. Code R. § 280-RICR-20-20-5.6