What You Missed: Wrapbook’s Latest Incentives Breakdown

In today's competitive production landscape, navigating tax incentives can make or break your project's budget. 

Wrapbook recently hosted its Spring Incentives Roundup webinar, providing crucial updates on production incentives across the United States. Read on for key takeaways from the event, highlighting both official changes and pending legislation that could impact your production planning in 2025 and beyond!

First, watch Incentives Spring Roundup

Before diving in, we recommend watching the complete Wrapbook Spring Incentives Roundup for everything you need to know. The webinar offers in-depth analysis of each state's program, application requirements, and strategic considerations from industry experts.

Meet Ryan Broussard

The Spring Incentives Roundup was hosted by Ryan Broussard, Wrapbook’s VP of Sales and Production Incentives.

Breaking down official 2025 incentive updates

During the Spring Incentives Roundup, Ryan provided a detailed overview of recently enacted incentive changes across multiple states. 

Below are the highlights of the most significant official incentive changes that have already taken effect or will be implemented in the coming months.

Louisiana

Louisiana stands out as one of the most robust and reliable incentive states in the country with its 25%–45% partially refundable tax credit program. With its rich production history, versatile locations, and attractive credit structure, it remains a go-to for both indie filmmakers and major studios alike. 

The latest Louisiana incentive updates include:

• Annual funding reduced from $150M to $125M (effective July 1)
• Loan-out withholding decreased to 3.09%
• Still considered one of the strongest domestic incentive programs

Read more about Louisiana’s tax credit here.

Georgia

Georgia has attracted the likes of Disney and Marvel to Atlanta, as well as indies, streaming series, and everything in between with its 20%–30% fully transferable tax credit program. With top-tier crews, major studio infrastructure, and a dependable incentive structure, the state remains a favorite for all kinds of projects.

The latest Georgia incentive updates include:

• Recently simplified Agreed Upon Procedures (AUPs) for audits
• Loan-out withholding decreased (similar to Louisiana)
• Savannah's local 10% rebate program was renewed with increased funding

Explore the Georgia film tax credit and Georgia Film Office for deeper insights.

Florida

While Florida currently lacks a statewide incentive, it’s quietly gaining traction through aggressive local programs and regional support.

The latest Florida incentive updates include:

• Fort Lauderdale, Jacksonville, and Duval County introduced new programs
• Miami-Dade redeveloped their website and introduced a tiered program offering up to 20% rebate

Mississippi

Mississippi is quickly becoming a go-to state for production on account of its attractive grant/rebate program. With a strong incentive plan and increased buzz, the Magnolia State is doubling down on its appeal. 

The latest Mississippi incentive updates include:

• Loan-out withholding decreased from 5% to 4.4%
• Enhanced episodic program with higher rebates for television projects
• Grant-based first-come, first-served model that incentivizes both residents and non-residents

New Jersey

New Jersey's fully transferable tax credit program makes it a serious contender for both film and TV production, with competitive credits and proximity to New York’s talent pool. Its 2025 updates only broaden its appeal.

The latest New Jersey incentive updates include:

• Increased compensation cap from $500k to $750k (per individual)
• Changed issuance fee from percentage to flat fee
• Modified diversity bonus (25% crew diversity requirement plus additional 4% for resident union members)
• Eased qualifications for unscripted projects

Illinois

Illinois continues to be a Midwestern hub for production with its fully transferable tax credit program, and its 2025 updates signal a desire to capture even more projects. 

The latest Illinois incentive updates include:

• Expanded program to include unscripted content (talk shows, game shows, contests)
• Now allows qualification of certain above-the-line non-residents based on budget tiers (up to four positions for budgets over $25M, two positions for lower budgets)

Read more about Illinois’ evolving credit program.

Missouri

Missouri offers a comprehensive and ambitious fully transferable tax credit program. Its newest guidelines make it clear the state is serious about attracting modern productions.

The latest Missouri incentive updates include:

• Recently released detailed application process guidelines
• Requires 100% proof of funding
• Multimedia and augmented reality projects now qualify
• Loan-outs must register in state
• Transferable credit up to 42% with stackable bonuses
• Defined payout process timeline and issuance fee

California

Still the heart of the entertainment industry, California’s current incentive program—a non-transferable and non-refundable tax credit—is getting an upgrade! The upcoming 4.0 program aims to retain productions that might otherwise leave the state. With new funding and options, the state remains competitive for both indie and studio-level projects. 

The latest California incentive updates include:

• 4.0 program starts July 2025 with $330M funding
• Will offer refundable option (90% buyback over five years) or transferable credit
• Implementing diversity opt-in program (can impact final credit amount)
• Application fee increasing (except for indies, which remain at 0.25%)

For more, take a deep dive into the California Film Commission.

Exploring pending incentives legislation for 2025 and beyond

Ryan also highlighted pending legislation that could significantly impact the incentive landscape in the following states.

Please note that this information is current as of the date of the Incentives Spring Roundup (March 2025) but are subject to change. We encourage readers to reach out to each state’s respective film offices for the most up-to-date information on its incentives program.

New York

New York has always been a heavyweight in the incentive space with its fully refundable tax credit program, but proposed changes for 2025 could make it even more enticing—for larger productions and indie filmmakers alike. 

Pending incentives legislation for New York includes:

• Proposed increase in funding from $700M to $800M with dedicated indie allocation
• Proposed bonus to incentivize bigger budget studio tentpoles.
• Potential extension to 2036
• Proposed loan-out withholding at highest rate nationwide (potentially retroactive)
• Expansion of upstate bonus areas into portions of Rockland and Winchester
• Potential inclusion of documentaries (possibly retroactive to 2023)

Explore the resources of the New York Film Office for more information!

Texas

Texas is a popular filming destination thanks to its diverse locations, favorable weather, and homegrown talent, but its grant/rebate incentive program has struggled to keep pace—until now. If passed, the proposed updates could place Texas back into serious contention for both indie and tentpole projects.

Pending incentives legislation for Texas includes:

• Proposed increase from one-time $200M to $500M for their grant program
• Potential adjustment to tiered percentage system (currently up to 22.5%)
• Proposed reduction in resident crew requirement from 50% to 35%

Nevada

With its fully transferable tax credit program, Nevada is eyeing long-term incentive stability and investment with proposals designed to attract not only productions—but also infrastructure. The model mirrors what’s worked in states like New Jersey and New Mexico.

Pending incentives legislation for Nevada includes:

• Multiple bills proposing infrastructure credits for studios establishing permanent facilities
• Extended sunset provisions potentially to 2043
• Focus on studio partnerships similar to New Jersey and New Mexico models

Head over to our blog for more details on Nevada incentives.

Additional pending legislation

Film and television production creates jobs and boosts local economies. As a result, several additional states are currently exploring new legislation or expansions that could shift the incentive playing field even further:

• California: Proposals to increase incentive funding from $330M to $750M
• Oregon: Potential increase to $28M annual funding
• Mississippi: Additional funding for their successful episodic television incentive program
• North Carolina: Proposed indie set-aside with lower $200k minimum spend
• Indiana: Potential shift from non-transferable to transferable credit
• New Hampshire & Kansas: Both considering first-time incentive programs

Wrapbook’s Production Incentive Center

All of the information presented in the webinar (and much more!) is available through Wrapbook's Production Incentive Center. This comprehensive resource is free to use at any time and includes access to tools like our Production Incentives Finder and our Government Forms Center. 

We’ve built these tools to serve as a force multiplier for production finance and accounting teams to achieve success faster, allowing producers at all budgetary levels to make informed decisions about where to film based on current incentive opportunities.

Wrapping up

The production incentive landscape continues to evolve rapidly, with states competing to attract film and television projects through increasingly sophisticated programs. 

For the most current information and expert guidance on navigating these complex incentives, visit Wrapbook's Production Incentive Center and watch the complete Spring Incentives Roundup on demand.