- June 21, 2021
- Posted by: Stratford Team
- Category: Business
The Massachusetts film tax credit program is in jeopardy, and is threatening a burgeoning industry in Berkshire County.
Effective since January 2006, the credits grant production companies making films, television series, videos, digital media and streaming projects, and commercials with in-state spending budgets over $50,000 a 25 percent tax credit on payroll and production, as well as a sales tax exemption.
The program effectively jumpstarted the film and media industry in the state. Over 1,500 individual productions took advantage of tax credits and exemptions from 2006 to 2018, according to the 2016 Impact of Massachusetts Film Industry Tax Incentives report issued by the Massachusetts Department of Revenue (DOR) last February.
The Massachusetts Production Coalition (MPC) estimates that film and television productions have spent more than $2.8 billion in Massachusetts since 2006. But opponents argue that the incentives are too costly, with the…
