Accounting For Film Industry

Eliot has worked with a number of film makers to obtain their New Mexico tax incentive. He can help you set up, collect and monitor production costs. Eliot will prepare the claim for the incentive and shepherd it through the New Mexico Film Office and Tax and Revenue Department Audit Process.

He can help you:
- With any state film incentive program.
- Prepare tax returns for a given film production whether an LLC, Partnership or Corporation.
- Claim the Federal section 181 credit. Section 181 allows for 100% write off of an investment in a film when the money is spent on production costs. For example in 2013 an investor committing $100,000 to a film would get a credit of that amount against federal tax liability if the money is spent on production in 2013. This is an important tool for the independent film maker to attract investors. Together with state incentives as much as 50-80% of production costs can be recovered through tax incentives using federal and state programs.