The following are the rules and requirements for the Illinois Film Tax Credit:
- Illinois Production Spending includes tangible, personal property and services purchased from Illinois vendors and compensation paid to Illinois resident employees.
- An Illinois vendor is an entity that provides goods and services to the applicant and is domiciled in the state.
- An Illinois resident qualifies as someone who has a valid Illinois state ID or driver's license, issued prior to commencement of production.
- Compensation maximum is $100,000 for each Illinois resident employee.
- Must spend at least $50,000 in Illinois Production Spending for a project less than 30 minutes.
- Must spend at least $100,000 in Illinois Production Spending for a project 30 minutes or over.
- Receipts and financial materials must be processed by a Certified Public Accountant.
Complete set of IFO Tax Credit Rules and Requirements
Illinois Film Production Services Tax Credit Act
List of Illinois CPAs