Film Accounting – Georgia and New York
August 17, 2014 Leave a comment
GEORGIA GOVERNOR COMMITTED TO FILM PRODUCTION INCENTIVES
Georgia Governor, Nathan Deal, is solidly behind the film tax incentives in Georgia, according to a Georgia news release this month. “Not only has this industry created jobs and investment opportunities for Georgians, it also has revitalized communities, established new educational programs, tourism product and more,” said Deal. “I will continue my commitment to growing this industry and to developing a film-ready workforce to meet the needs of the productions that are setting up shop in Georgia.”
CREATING JOBS FOR GEORGIANS
According to the Motion Picture Association of America (MPAA), the motion picture and television industry is responsible for more than 77,900 jobs and $3.8 billion in total wages in Georgia, including indirect jobs and wages. Nearly 23,500 people are directly employed by the motion picture and television industry in Georgia, including 8,188 production-related employees. These local businesses include technology, lodging, real estate and food service.
CREATING JOBS FOR NEW YORKERS – AND OTHER STATES
Governor Cuomo has been behind New York legislation which has allocated $420 million per year for the calendar years 2015-2019. Louisiana is also booming, at least as much as Georgia. Other States with promising film production statistics are Pennsylvania, Ohio, Illinois, Alaska and New Mexico. Three other States with very good film productive incentives are Massachusetts, Florida and Alabama. Check the incentives map here for current tax incentives by State.
CROSSING OVER TO FILM ACCOUNTING
All this is creating a demand for Film Production Accountants. Film accountants generally train through a series of apprenticeships. A CPA designation is not a requirement; although having a CPA designation would definitely mean a faster rise through the ranks. How do you get your foot in the door? The biggest complaint I hear is, “The Key Accountants only want to hire experienced assistants.” So, the assistants are imported from out-of-town.
HOW DO YOU GET EXPERIENCE IF YOU CAN’T GET HIRED?
A solution is to “get up to speed” in workshops like these, learning the various film accounting techniques by practicing in a controlled environment. We use the unique proprietary film accounting software used in film production, taking the time to clear up the industry specific terms, reports and processes. (Note: this software cannot be purchased, only leased).
See http://www.filmaccounting.com for more information.
Cheers / John