Monday, March 30, 2009 - MiBiz
WEST MICHIGAN - Lured to Michigan last year by promises of lucrative tax incentives, film production companies now worry they might not see the tax rebate they were promised.
The Department of Treasury says "not to worry," but that hasn’t stopped the companies from questioning whether they’ll get their refund checks or not, according to Karl Butterer, who heads the entertainment law division at Smith Haughey Rice & Roegge.
The way legislation works, a film production company has to first be qualified by the state. Once qualified, they must record the money spent on direct production expenditures in a given year and obtain a post-production certificate from Treasury, then file a tax return and wait for the refund. Treasury has three to four weeks to send the rebate.
http://www.mibiz.com/absolutenm/templates/template5.aspx?articleid=15104&zoneid=169
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