One of the most commonly asked questions a producer or financier has for us when evaluating film tax credit financing is "How long will it take for us to receive the proceeds?"
Though answering that question isn’t always easy, there’s no question that digitizing files will dramatically cut the turnaround time. Consider the following benefits:
At GreenSlate, we make every effort to be 100% DIGITAL. Everything—from payroll timecards to checks to vendor invoices to petty cash—is stored digitally from prep day one.
Back to the original question above: When can you expect your cash when working with GreenSlate software and engaging our tax incentive services? We average 3.5 months to receive funds, assuming coordination with a third-party CPA firm and timely filing of tax returns (where applicable). An additional benefit: Assuming final qualified costs are not 5% higher or lower than the original estimates, you can expect 99.5% accuracy of the final refund compared to the original estimate when GreenSlate handles your post production accounting as well.
Have questions? Contact Michele Miller for any tax incentive inquiries. And make sure to check out our tax incentive calculator and state comparison tools as you are exploring locations for your next production!