Anything Goes : New Nevada film incentive law by Ric Frost

For anyone that has an interest in the new Nevada film incentive law, here is a summary. This past New Year's eve, a new film incentive law NRS 360.758 - 360.7598 went into effect here in Nevada. The bottom line is that any $500,000 to $45 million production budget that is brought to the state and has at minimum 60% of the production cost spent hiring Nevada talent, crew, services and supplies will qualify for an up to 18% return in the form of a transferable tax credit [ http://www.leg.state.nv.us/NRS/NRS-360.html#NRS360Sec758 ]. Clark county (Las Vegas) has a 16% credit limit and all other counties statewide have an 18% credit limit. This is being tested for the next 4 years. If this does not produce a viable industry, the legislators will allow the law/incentives to sunset. If it does produce a viable industry, then the law will become permanent. Nevada hired Chris Baum (formerly of Detroit, Mich tourism) and he brought in Jeff Spilman (also of Michigan and S3 Entertainment Group) to not only help write the law, but to oversee the direction and promotion of this incentive to make it happen. Here is the website to learn more about what the effort based in Reno/Lake Tahoe region: http://filmrenotahoe.com/. If you need more information, please feel free to contact me and i will help however I can.