Tax Credits

Trevanna provides a comprehensive tax incentive service—from filing the initial application to the final submission. Our firm has successfully completed multiple tax credit submissions in several states, including New York, Pennsylvania, Connecticut, Rhode Island, Michigan, Louisiana, Georgia, Illinois, New Mexico, Iowa, Texas and California.

We have been working on the tax incentive process since its inception in New York and are entirely proficient in every aspect of the submission process, from pre-production through post.

Trevanna provides the following services for tax incentives:

1. Calculating the anticipated qualified spend for incentives or rebate from producer-supplied budget, and submit the initial application.
2. Assist Production in determining qualified expenses and in setting up the proper coding scheme for the accounting program, to be sure that qualified expenses can be properly recorded to capture the incentive.
3. Be available as needed during production to answer any incentives-related questions, and/or to review weekly audit of the General Ledger to ensure coding is being done correctly.
4. Assemble the documents needed for the state and city submissions, (for example, in New York, completing the “FORM E” which breaks down the qualified vs. non-qualified spend, and the “FORM F” which is a summary of the labor, formatted as specified by the state).
5. Gather all other required forms, specifically Daily Production Reports, Cast & Crew Lists, Shooting Schedule, List of Locations, Final budget and General ledger, including separate general ledger (bible) runs for each qualified column.
6. Await audit by the state, and research and respond to items in question; after negotiating such items, calculate final Tax Credit amount due.
7. Provide information to outside CPA in their preparation of the filing of the corporate tax returns.