Film & TV Tax Credit Program 3.0
Tax Credit Program 2.0
California Franchise Tax Board
The California Franchise Tax Board (FTB) recently updated information on the FTB website regarding transfer and utilization of tax credits for both Programs 1.0 and 2.0. Once the credit certificates are issued by the California Film Commission (CFC), taxpayers can use the old and new credit at the same time to reduce their income, franchise, or sales and use tax liabilities. Taxpayers are required to report allocation assignment, purchase, sale and application of credit against income/franchise tax with FTB or sales and use tax with the California Board of Equalization on FTB Form 3541, California Motion Picture and Television Production Credit.
For further questions regarding sale and assignment of the film and television tax credits in California, please visit the FTB Frequently Asked Questions page.