State Announces New Tax Credit for Entertainment Industry - Articles

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State Announces New Tax Credit for Entertainment Industry

Posted by: Stacey Shrader Joslin on Apr 13, 2022

A new entertainment tax credit, an incentive for everything from television shows and films to video game development and post-production, was recently announced by the Tennessee Department of Revenue and Department of Economic and Community Development. The credit was initiated last July after a bill became law allowing for a payroll tax credit up to 40% with a 10% incentive for economically distressed areas, and a 9.25% to 9.75% sales tax break for goods and services used for production. Categories eligible for the tax credit include scripted and unscripted television shows, feature films, video game development, animation, commercials and audio/visual postproduction, the Nashville Post reports.