MASSACHUSETTS FILM PROGRAM CHANGE EXPLAINED
Until February 17, 2010, loan-outs were able to request a waiver of the withholding requirements in Massachusetts; if granted, Massachusetts income tax did not need to be withheld in order to qualify the loan-out for the incentive. After February 17, 2010, the waiver will no longer be granted for motion picture productions, therefore Massachusetts withholding needs to be paid for all loan-outs; also, an agreement signed by payroll company, production company, and loan-out company authorizing the payroll deduction must be executed for each loan-out company.
NEW VIRGINIA LEGISLATION
The new incentives legislation in Virginia will provide a refundable tax credit, with $10 million available per year. The current draft will be revised.
CRIMINAL CHARGES FILED IN IOWA
The Iowa Attorney General has filed criminal charges against Tom Wheeler, the former director of the Iowa Film Office, plus two producers. Link: http://www.whotv.com/news/who-story-film-mess-020910,0,2294751.story