Nevada Governor Brian Sandoval signed Bill 165 into law earlier this week, which allows for up to $20 million in tax incentives to lure motion picture film work to the state. The bill was introduced by state senator Aaron Ford earlier this year.
According to Chris Ramirez, founder of Nevada-based production-services company, Silver State Production Services, “We expect to see an influx of commercials and low-medium budget films shooting all over Nevada starting early next year. It’s just fantastic news for so many hard working people throughout the state.” Ramirez expects the incentives to create thousands of jobs and drive tourism.
Beginning Jan. 1, 2014, productions that shoot at least 60 percent in-state and spend between $500,000 and $40 million will be eligible to earn a transferable tax credit worth 15-19 percent of their in-state qualified expenses, up to $20 million. The tax break can be applied to all Nevada cast, crew, labor, materials and rentals.