Tax Credit to Bring Big Screen Business to Nevada - 8 News NOW

Tax Credit to Bring Big Screen Business to Nevada

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LAS VEGAS - A new Nevada law gives film companies a tax break if they make their movies in the Silver State. The law could provide a boost to local businesses.

The law gives film companies as much as a 20 percent tax credit if a film production is completed in Nevada, and the company hires local production crews.

State Senator Aaron Ford introduced the measure as a way to create jobs. Las Vegas Mayor Carolyn Goodman agreed. She joined actor/director Nicholas Cage in Carson City last year to promote the bill. The bill passed the Legislature in June, and Governor Brian Sandoval signed it into law a few weeks later.

Mike Levy owns Levy Production Group, a Las Vegas-based production company. He says this law is a long-time coming.

"I believe that it's something long overdue. The benefits of luring more film production and television to the state by offering credits to them to do so, whether it requires hiring local crews and using local services, will be a great benefit to the city," he said.

The owners of Tiffany's Café know the benefit of film companies coming to Nevada. The film "Lucky You", which starred Robert DeNiro, included scenes shot at Tiffany's Café. In addition to free advertising, the restaurant received compensation from the production company for two weeks of filming.

Manager Vicki Kalesas says the film helped put Tiffany's Café on the map and helped attract more customers.

"A lot of people came here, because they know about the movie," she said. "It was so cool, because we're a small diner, and they liked our place to do the movie."

Film companies looking to shoot in Nevada must fulfill some requirements in order to receive the tax credit. Production costs must total more than $500,000 per project. At least 60 percent of production spending must take place in Nevada. The cap for each project is $6 million in tax credits.

The credit doesn't just apply to motion pictures. Companies that produce commercials, documentaries, sitcoms, and/or music videos can also take advantage of it.

Sporting events, news productions, adult films and political advertisements do not qualify for the credit.

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