41.152 Film production tax credits.

546 words·~2 min read·/wi/chapter-41/41-152-5

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The state film office shall implement a program to accredit productions and certify expenses for purposes of ss. 71.07

(5f)and

(5h), 71.28

(5f)and

(5h), and 71.47

(5f)and

(5h). Application for accreditation or certification shall be made to the office in each taxable year for which accreditation or certification is desired.

(2)If the state film office accredits a production under sub.

(1), the office shall determine the amount of the production’s production expenditures, as defined in s. 71.07

(a)4. The state film office shall not issue an accreditation or certification under sub.

(1)without first receiving written confirmation from the applicant that the applicant has retained a certified public accountant located in this state to conduct periodic audits to ensure compliance with this section and ss. 71.07

(5f)and

(5h), 71.28

(5f)and

(5h), and 71.47

(5f)and

(5h), as prescribed by rule by the office. An entity applying for a tax credit under s. 71.07

(5f), 71.28

(5f), or 71.47

(5f)that does not have its commercial domicile in this state shall indicate that on its application along with the amount of production expenditures it anticipates spending in this state and the amount of expenditures, if any, it anticipates spending in another state on the same production.

(3)The state film office shall notify the department of revenue of every production accredited under sub.

(1), the amount of the production’s production expenditures, as defined in s. 71.07

(a)4. , every certification issued under sub.

(1), and the amount of the tax credits under ss. 71.07

(5f)and

(5h), 71.28

(5f)and

(5h), and 71.47

(5f)and

(5h)allocated to the applicant for the taxable year for which the applicant’s claim relates. The state film office shall notify the department of revenue under this subsection no later than 30 days after allocating tax credits to an applicant.

(4)The state film office may not allocate more than $5,000,000 in tax credits under ss. 71.07

(5f)and

(5h), 71.28

(5f)and

(5h), and 71.47

(5f)and

(5h)in each fiscal year and no more than $1,000,000 in tax credits to any single applicant in each fiscal year.

(5)Each applicant who produces an accredited production, as defined in s. 71.07

(a)1. , that is eligible for a tax credit under s. 71.07

(5f), 71.28

(5f), or 71.47

(5f)shall include in the finished production an acknowledgment to the state of Wisconsin and the state film office as designed by the state film office, including a logo designed by the state film office.

(6)Annually, beginning in 2027, the state film office shall prepare a report specifying the number of persons who submitted tax credit applications in the previous year and the amount of the tax credits allocated to each such applicant. The report shall also provide recommendations and suggestions on improving the efficiency of the program implemented under this section. The office shall submit the report to the legislature, in the manner provided under s. 13.172

(2), no later than April 30 each year.

(7)The department shall promulgate rules to administer this section.