Illinois Live Theater Production Tax Credit Program (35 ILCS 17 Act)
- The Program provides for a transferrable credit of 20% of all qualified Illinois expenditures including Illinois resident salaries (non-talent) up to $100,000 per worker.
- The minimum Illinois spend for the production is $100,000 for Illinois labor and marketing expenditures.
- An eligible applicant includes: a theater producer, owner, licensee, operator or presenter.
- Eligible theaters must have a seating capacity of at least 1,200 seats.
- A production must either be Long-Run (runs longer than 8 weeks with at least 6 performances per week) or Pre-Broadway (scheduled for Broadway’s Theater District in New York City within 12 months after its Illinois presentation).
- Application must be submitted no sooner than 180 days prior to opening of ticket sales and no later than the last business day prior to the opening.
Complete set of IFO Live Theatre Tax Credit Rules and Requirements
Credits will be shall be awarded on a first-come, first served basis, based on the date on which each properly completed application for an Accredited Theater Production Certificate is received by the Department. If more than one application is received on the same day, the credits will be awarded based on the time of submission of that particular day. Each Theater Tax Credit Award shall be limited to $500,000 per Accredited Theater Production per tax year. If an Accredited Theater Production receives only a portion of the Theater Tax Credit Award to which the Department has determined it is entitled due to the annual fiscal cap on the amount of credits that can be awarded, the Accredited Theater Production shall not be entitled to any Theater Tax Credit Award in the following Tax Years.