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Form NC-415 Fillable Tax Credit for Qualifying Expenses of a Film or Television Production Company
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
2 Total qualifying expenses spent in North Carolina for services leased or purchased 3 Total qualifying expenses spent in North Carolina for compensation and wages paid Total qualifying expenses spent in North Carolina for goods leased or purchased 1 ($25 000) or more the amount included in qualifying (Do not include amounts in excess of $1 000 000 paid to a highly compensated individual ) (MM DD YY) 00 00 4 a Employee fringe contributions 00 5 Total North Carolina Qualifying Expenses 00b Other qualifying expenses 6 Credit for Qualifying Expenses of a Production Company a production company pays a personal service company or an Add Lines 1 through 4b (If $250 000 or less stop here; you are not eligible for the credit ) Address airline tickets and other goods if purchased or leased allowances paid for work being performed in the State an extension of time to file its income tax return the due date for at least two hundred fifty thousand dollars ($250 000) with respect begin until after the income tax return for the taxable year in which by the Department of Revenue The burden of proving eligibility CertificationPart 3 City State Zip Code Date Production Activities Completed commercial advertising or educational purposes commissions to determine the amount of qualifying expenses Compensation and wages on which withholding Compensation and wages paid to employees for services Contact Person Phone Number for Contact Person corporation or an employee leasing organization coverage purchased from a related member are not credit is claimed must be paid to the Department of Revenue before date of the income tax return for the taxable year in which the defined in G S 14 190 1 Definitions The following definitions apply: Department s website www dornc com and select Tax Professionals dollars ($1 000 000) for personal services with respect to a single due date of the income tax return Processing of the credit cannot Due date To be eligible for the tax credit the production company Eligibility A production company that has qualifying expenses of Employee fringe contributions employee leasing company that pays the individual Enter the name and a description of production List all North Carolina counties used as sites in the production entities Instead the pass through entity is considered the taxpayer Estate or Trust (D 407) expenses expenses is the purchase price less the fair market value Feature film A movie made for initial distribution in theaters that FEIN or SSN (No dashes) Fill in the circle that correspondsto the tax form you filed: Film Office of the Department of Commerce and the regional film Film or Television Production Company for purposes of claiming the credit for taxable years beginning on or after January 1 2011 The credit is calculated on all of the taxpayer s qualifying expenses incurred in for the credit and the amount of credit rest upon the taxpayer Form NC 415 will be extended to correspond with the extended from a business located in North Carolina Goods and services leased or purchased For goods Highly compensated individual An individual who directly historical footage or similar footage taken at least 30 days before I certify that the taxpayer filing Form NC 415 meets the requirements for claiming the tax credit and that the information given is to the best of my in calculating the allowable credit Individual (D 400) C Corp (CD 405) is a feature film is a feature film may not exceed twenty million dollars ($20 000 000) is allowed for the following types of productions: is eligible for the tax credit This includes fuel food is over 40 minutes long is subject to the highly compensated individual is subject to the highly compensated individual limitations it is used knowledge accurate and complete less the amount in excess of one million dollars ($1 000 000) paid limitations in calculating the allowable credit Limitations The amount of tax credit allowed for a production that Live sporting event A scheduled sporting competition game MAIL TO: North Carolina Department of Revenue Central Exams Corporate Group Manager make available for inspection any information or records required Multiply Line 5 by 25% ( 25) and enter amount here; do not exceed $20 000 000 for a production that must file Form NC 415 with the Department of Revenue by the due Name (Individual s name or entity s legal name) NC 415 NC 415 must be filed for each production The information below does not cover all provisions of the law For more information go to the North Carolina Department of Revenue not include commercial advertising an episodic television series a Number of people employed in North Carolina with respect to the production obtained on the production Expenses for insurance of the good at the time the production is completed on Form NC 415 Any tax liability for the tax year in which the tax or indirectly receives compensation in excess of one million or race that is originated solely by an amateur collegiate or original motion picture television or radio images for theatrical Other expenses Per diems stipends and living owners as is the general rule for credits earned by pass through Page 2 paid to an individual through a personal services Part 1 Production Information Part 2 Computation of Credit for Qualifying Expenses of a Production Company Partnership (D 403) payments are remitted are eligible for the tax credit payments are remitted to the Department of Revenue performed in North Carolina on which withholding PO Box 871 Raleigh North Carolina 27602 Political advertisements production activities are completed If the taxpayer is granted production An individual receives compensation indirectly when Production company A person engaged in the business of making production in which sporting events are presented through archived Productions that contain material that is obscene as professional organization institution or association for live or tapedelayed purchased or leased from North Carolina businesses qualifying expenses Qualifying expenses for goods Spending for goods Qualifying expenses for services Spending for Qualifying expenses subject to audit before credit is allowed Qualifying expenses The sum of the following amounts spent in Radio productions regardless of whether paid to residents or nonresidents Related member See G S 105 130 7A Return for Year Ended (MM DD YY) S Corp (CD 401S) services are performed in North Carolina The amount services corporation or an employee leasing organization services is eligible for the tax credit regardless of Signature of Taxpayer or Authorized Agent Date sporting event Substantiation Taxpayers claiming this credit must maintain and Tax Credit for Qualifying Expenses of a Taxpayers must claim the income tax credit for qualifying expenses television or satellite broadcast A live sporting event does television pilot a music video a motion picture or a documentary Television productions of a news program or live that qualifies for this credit does not allocate the credit among its The amount paid to an individual through a personal The cost of production related insurance coverage The Department of Revenue may consult with the North Carolina the production activities are completed is filed the tax credit can be processed Important A pass through entity There is no maximum credit for other types of productions No credit This form is used to calculate the amount of income tax credit for qualifying expenses of a production company and should only be used this State by a production company in connection with a production this State in connection with a production including expenses incurred in earlier years The tax credit must be claimed in the taxable to a highly compensated individual: to a production is allowed a credit against income taxes equal to twenty five percent (25%) of the production company s qualifying Web General Information whether paid to residents or nonresidents if the with a purchase price of twenty five thousand dollars year in which the production activities are completed If more than one production is completed during a taxable year a separate Form