What You Missed: Wrapbook’s Latest Incentives Breakdown | Wrapbook

What You Missed: Wrapbook’s Latest Incentives Breakdown

About the author

Chris Cullari is a writer/director based out of Los Angeles. His most recent film, THE AVIARY, is available for streaming on Paramount Plus and Showtime. You can find him tweeting about monsters, pro-wrestling, and horror movies.

Disclaimer

At Wrapbook, we pride ourselves on providing outstanding free resources to producers and their crews, but this post is for informational purposes only as of the date above. The content on our website is not intended to provide and should not be relied on for legal, accounting, or tax advice. You should consult with your own legal, accounting, or tax advisors to determine how this general information may apply to your specific circumstances.

Last Updated

April 9, 2025

Free Resource

Get expert advice on state production incentives

In today's competitive production landscape, navigating tax incentives can make or break your project's budget.

Wrapbook recently hosted its Spring Incentives Roundup webinar, providing crucial updates on production incentives across the United States. Read on for key takeaways from the event, highlighting both official changes and pending legislation that could impact your production planning in 2025 and beyond!

First, watch Incentives Spring Roundup

Before diving in, we recommend watching the complete Wrapbook Spring Incentives Roundup for everything you need to know. The webinar offers in-depth analysis of each state's program, application requirements, and strategic considerations from industry experts.

Breaking down official 2025 incentive updates

During the Spring Incentives Roundup, Ryan provided a detailed overview of recently enacted incentive changes across multiple states.

Louisiana

• Annual funding reduced from $150M to $125M (effective July 1)
• Loan-out withholding decreased to 3.09%
• Still considered one of the strongest domestic incentive programs

Read more about Louisiana’s tax credit here.

Georgia

• Recently simplified Agreed Upon Procedures (AUPs) for audits
• Loan-out withholding decreased (similar to Louisiana)
• Savannah's local 10% rebate program was renewed with increased funding

Explore the Georgia film tax credit and Georgia Film Office for deeper insights.

Florida

• Fort Lauderdale, Jacksonville, and Duval County introduced new programs
• Miami-Dade redeveloped their website and introduced a tiered program offering up to 20% rebate

Mississippi

• Loan-out withholding decreased from 5% to 4.4%
• Enhanced episodic program with higher rebates for television projects
• Grant-based first-come, first-served model that incentivizes both residents and non-residents

The Magnolia State is doubling down on its appeal.

New Jersey

• Increased compensation cap from $500k to $750k (per individual)
• Changed issuance fee from percentage to flat fee
• Modified diversity bonus (25% crew diversity requirement plus additional 4% for resident union members)
• Eased qualifications for unscripted projects

Illinois

• Expanded program to include unscripted content (talk shows, game shows, contests)
• Now allows qualification of certain above-the-line non-residents based on budget tiers (up to four positions for budgets over $25M, two positions for lower budgets)

Read more about Illinois’ evolving credit program.

Missouri

• Recently released detailed application process guidelines
• Requires 100% proof of funding
• Multimedia and augmented reality projects now qualify
• Loan-outs must register in state
• Transferable credit up to 42% with stackable bonuses
• Defined payout process timeline and issuance fee

California

• 4.0 program starts July 2025 with $330M funding
• Will offer refundable option (90% buyback over five years) or transferable credit
• Implementing diversity opt-in program (can impact final credit amount)
• Application fee increasing (except for indies, which remain at 0.25%)

For more, take a deep dive into the California Film Commission.

Exploring pending incentives legislation for 2025 and beyond

Ryan also highlighted pending legislation that could significantly impact the incentive landscape in the following states.

New York

• Proposed increase in funding from $700M to $800M with dedicated indie allocation
• Proposed bonus to incentivize bigger budget studio tentpoles.
• Potential extension to 2036
• Proposed loan-out withholding at highest rate nationwide (potentially retroactive)
• Expansion of upstate bonus areas into portions of Rockland and Winchester
• Potential inclusion of documentaries (possibly retroactive to 2023)

Explore the resources of the New York Film Office for more information!

Texas

• Proposed increase from one-time $200M to $500M for their grant program
• Potential adjustment to tiered percentage system (currently up to 22.5%)
• Proposed reduction in resident crew requirement from 50% to 35%

Nevada

• Multiple bills proposing infrastructure credits for studios establishing permanent facilities
• Extended sunset provisions potentially to 2043
• Focus on studio partnerships similar to New Jersey and New Mexico models

Head over to our blog for more details on Nevada incentives.

Additional pending legislation

• California: Proposals to increase incentive funding from $330M to $750M
• Oregon: Potential increase to $28M annual funding
• Mississippi: Additional funding for their successful episodic television incentive program
• North Carolina: Proposed indie set-aside with lower $200k minimum spend
• Indiana: Potential shift from non-transferable to transferable credit
• New Hampshire & Kansas: Both considering first-time incentive programs

Wrapbook’s Production Incentive Center

All of the information presented in the webinar (and much more!) is available through Wrapbook's Production Incentive Center. This comprehensive resource is free to use at any time and includes access to tools like our Production Incentives Finder and our Government Forms Center.

We’ve built these tools to serve as a force multiplier for production finance and accounting teams to achieve success faster, allowing producers at all budgetary levels to make informed decisions about where to film based on current incentive opportunities.

Wrapping up

The production incentive landscape continues to evolve rapidly, with states competing to attract film and television projects through increasingly sophisticated programs.

For the most current information and expert guidance on navigating these complex incentives, visit Wrapbook's Production Incentive Center and watch the complete Spring Incentives Roundup on demand.