Budget & Taxes (Tax Credits)

HB 915 reenacts a 25% tax credit for film production companies in North Carolina that spend at least $250,000 on qualifying expenses within the state. The credit applies to costs like equipment rentals, wages (excluding payments over $1 million to top earners), insurance, and employee benefits, but excludes political ads, news broadcasts, live sports events, and obscene content. The credit is capped at $20 million per feature film and requires producers to notify the North Carolina Film Office before claiming it. This reenactment makes the credit effective for qualifying expenses occurring on or after January 1, 2025, after a prior sunset clause expired in 2015.