The Tax Credits are issued in the form of Certificates, which may be used to satisfy
Georgia Income Tax Liabilities (taxes owed to Georgia). The Tax Credits are
designed to be Transferrable, so Productions can receive direct cash benefit by
transferring (selling) the credits they earn to other Taxpayers. These Tax Credits are
valuable to any individual or business who owes taxes in Georgia. The State of Georgia allows these credits to be carried forward for 5 years, during which time they may be used to offset either Corporate or Individual Income Tax liability and they may be transferred one time to another Georgia taxpayer. Larger value tax credits may be subdivided into $100,000 increments and transferred to multiple taxpayers.
Aardvark Production Services, LLC (APS) helps Producers by marketing their earned tax credits to viable Georgia based corporations and high income taxpayers who need to offset their state income tax liabilities, we lower their effective tax rates. This allows them to improve their corporate image, help maintain Georgia as a viable filmmaking location which creates jobs, increase their after tax earnings, secure tax equity and increase their cash flow.
Example: A Feature Film spends $10,000,000 producing and editing a movie in the State of Georgia, the Producers can earn an immediate 20% ($2,000,000) PLUS an additional 10% ($1,000,000) for simply placing a Georgia Film Logo on the end of the film's credits. This is a total of 30% or $3,000,000 of available tax credits which can be sold by the producers to offset their production costs. Additionally, Georgia offers a sales tax exemption whicn can be up to an additional 7% savings for items purchased or rented within the state during the production process.