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Puerto Rico Film Tax credits starting at 40%

Paradise may be one thing, but producers don’t just choose Puerto Rico for its wide range of locations- the government offers tax incentives that rival anywhere in the world

ISLAND EXPENDITURE REBATE

–  40% tax credit on all payments to Puerto Rico Residents.

–  20% tax credit on all payments to Non-Resident Talent (including stunt doubles).  Payments made to Non-Resident Talent are subject to a 20% withholding over their PR income.

–  Qualifying media projects:

  • feature films

  • short films

  • documentaries

  • television programs

  • series in episodes

  • mini-series

  • music videos

  • national and international commercials

  • video games

  • recorded live performances

  • original sound track recordings and dubbing.





 Discover a world of treasure on the island of enchantment, Puerto Rico

Discover a world of treasure on the island of enchantment, Puerto Rico

–  $100,000 minimum local spend requirement per project ($50,000 for short films and commercials).

–  No principal photography requirements (full or partial development, pre-production and post-production may qualify).  If 50% or more of principal photography is shot in the island, development payments to Puerto Rico Residents can qualify.

–  No per project or individual wage caps.

–  No cap on credits for payments to Non-Residential Talent.  The annual cap on credits for payments to Puerto Rico Residents is $50 million.

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Film Tax Incentives /State

40% - PR

35% - DC/OK

30% - KY/IL/WA/NY

25% - RI/PA/AL/MA/NM/NC/SC/TN

20% - CA/CO/AR/UT/OR/MN/HI/GA

  

Some facts about Puerto Rico:

  • Puerto Rico has over four (4) US trained full crews for mid to low budget films

  • U.S. Citizens do not need a passport to travel to PR

  • The islands currency is the US dollar

  • Puerto Rico has been part of the United States since 1898

  • Puerto Ricans HAVE BEEN US citizens since 1917

  • Residents pay local income taxes while contributing to the US national Medicare and Social Security systems

  • All U.S. labor, safety, banking, minimum wage and federal laws apply

 

* Elements of this document were taken directly from the Puerto Rico Film Commission Executive Summary  www.puertoricofilm.com