Seven got movie tax credits in ’14

PROVIDENCE – Seven companies got $1.7 million in Motion Picture Production Tax Credits during the 2014 fiscal year that ended June 30, according to the Annual Tax Credit Disclosure Report published Aug. 15 by the R.I. Division of Taxation.
The largest motion picture production tax credit for the year was $596,979 to IPB LLC of New York, according to the report, which identifies the production companies, but not the film titles.
Backmask LLC of Providence got $442, 074, God Only Knows of Newport got $334,964 and The Institute Rhode Island LLC of Providence got $244,501 in tax credits.
Other companies that got the motion picture production tax credits are Army of the Damned LLC of East Greenwich, $62,376; Self Storage LLC of East Greenwich, $37,678 and Ginkgo Leaf Productions Inc. of Tiverton, $9,649.
In fiscal year 2013, Rhode Island awarded $70,722 in tax credits for one motion-picture production, according to the R.I. Division of Taxation. In 2012, the state gave $11.4 million in tax credits for four productions.
In the previous years, the tax credits were: in 2011, $2.4 million for five productions; in 2010, $8.1 million for five productions; in 2009, $10.1 million for eight productions; and in 2008, $12.8 million for four productions.
The report covering the annual state tax credits and incentives for fiscal year 2014 is online at: www.tax.ri.gov.