Form It-Fc - Film Tax Credit - 2016 Page 2
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CLEAR
IT-FC 2016 (03/14/16)
Calculation of Credit
Current Tax Year
1. Credit on Base Investment or Excess Base Investment
(a) Base Investment/Excess Base Investment in Georgia ___________
(b) Percent of Credit for Base Investment
___
20%
(c) Tax Credit for Base Investment (multiply 1(a) by 1 (b))
____________
2. Additional Credit for Qualified Georgia Promotion
(a) Base Investment/Excess Base Investment in Georgia ___________
(b) Percent of Credit for Qualified Georgia Promotion
______
10%
______
(c) Tax Credit for Qualified Georgia Promotion (multiply 2(a) by 2(b))
____________
(d) Total Current Year Tax Credit (Add lines 1(c) and 2(c))
____________
If this Production Company is a Qualified Interactive Entertainment Production Company, then
you must use credit code 133 when claiming the film tax credit on your income tax return.
If this Production Company is a Qualified Interactive Entertainment Production Company, then you
must complete number 3 (if this Production Company is not a Qualified Interactive Entertainment
Production Company leave number 3 blank).
3. Credit Amount Limitation for a Qualified Interactive Entertainment Production Company
(a) Total aggregate payroll expended to employees working in Georgia
____________
for the calendar year directly preceding the start of the current year.*
(b) Current Year Credit Amount (from line 2(d))
____________
(c) Lessor of line 3(a) or line 3(b)
____________
(d) Preapproved credit amount
____________
(e) Credit amount for current year (lessor of line 3(c) or line 3(d))
____________
*The credit amount allowed for a taxable year shall not exceed the Qualified Interactive Entertainment
Production Company’s total aggregate payroll expended to employees working within Georgia for the
calendar year directly preceding the start of the taxable year the Qualified Interactive Entertainment
Production Company claims the film tax credit. Any amount in excess of this credit limit shall not be
eligible for carry forward to succeeding years’ tax liability, nor shall such excess amount be eligible for
use against the qualified interactive entertainment production company’s quarterly or monthly payment
under O.C.G.A. § 48-7-103, nor shall such excess amount be assigned, sold, or transferred to any other
taxpayer.
At the time the qualified interactive entertainment production company claims the film tax credit, the
qualified interactive entertainment production company must also send a paper copy of this form to :
Tax Credits Unit
Georgia Department of Revenue
1800 Century Blvd NE
8th Floor
Atlanta, GA 30345
Failure to send such paper copy may cause the qualified interactive entertainment production company’s
film tax credit to be disallowed.
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