Rhode Island Motion Picture Production Tax Credit
The State of Rhode Island provides a transferable tax credit that can be used to reduce personal income taxes. The credit is generated from certified costs associated with Rhode Island made the feature-length film, video, video games, television series, or commercials. The RI Division of Taxation issues the tax credit certificates. The benefit to Rhode Islanders: Each of these motion picture production tax credit certificates may be transferred, assigned or sold.
THE BENEFIT TO YOU: The credits can be used dollar for dollar to reduce your RI income tax. For example, say your Rhode Island income tax is $1,000 you can use these credits to reduce the tax to $0. There is no limit to the number of credits you can purchase. Contact your accountant or a broker of tax certificates to obtain the credits. Rhode Islanders get your credits.