Tax Credit Consultation

  • Calculating the anticipated qualified spend for incentives or rebate from producer-supplied budget
  • Submitting the initial application for your project
  • Providing Opinion Letters for bank loans based on above estimates
  • Assisting producers with aspects of all state and foreign incentives, such as determining qualified expenses and setting up the proper coding scheme for the accounting program, to be sure that qualified expenses can be properly recorded to capture the incentive.
  • Being 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.
  • Recommending CPA firms to engage for required audits

Tax Credit Submission

Trevanna provides a comprehensive tax incentive service — from filing the initial application to the final submission.

We have been working on the production tax incentive process since its inception in New York, and were also extremely influential in the creation of New York State's Post-Only and Visual Effects tax credits.

Our firm has successfully completed multiple tax credit submissions in several states, including New York, California, Louisiana, Georgia, Pennsylvania, Connecticut, Rhode Island, New Mexico, Michigan, Alabama, Illinois, Iowa, and Texas. We also have extensive experience with tax incentives in Canada, the UK, and Italy.

  • Submission of the final Application for New York state includes:
  • Auditing the General Ledgers to ensure that the maximum qualified spend is tagged
  • Preparing all required submission reports such as the Forms D,E,F and G
  • Gathering all of the other required forms, specifically Daily Production Reports, Cast & Crew Lists, Shooting Schedule, List of Locations, Final budget and General ledgers
  • Awaiting audit by the state, or providing information to state-approved outside CPA firms (starting January 1, 2015)
  • Researching and responding to items questioned in audit
  • Negotiating said items, and calculating the final Tax Credit amount due
  • Providing information to outside CPA in their preparation of the filing of the corporate tax returns.

Trevanna can also manage the submission of the New York State for projects we have not done the post accounting on, as a separate fee.

We provide the same services for all other states besides NY, based on that state's legislative requirement for independent CPA firms (i.e., Louisiana) or direct submissions (Georgia's option to direct-submit).