Utah Admin. Code R357-5-107 - Funding - Post-Performance Refundable Tax Credit
(1) Post-performance refundable tax credits
are non - transferable and can only be issued to the state-approved motion
picture that submits the motion picture incentive application and is approved
by the Office with advice from the Board.
(2) Post-performance refundable tax credits
in amounts over $2,000,000 may be paid in deferred payments over multiple years
as authorized by the Office within the approved Board motion for the tax
credit.
(a) Deferred payments for tax credits
over $2,000,000 are subject to available tax credit allocation as authorized by
the Legislature.
(b) Each annual
installment of the deferred payment amount shall be outlined in the tax credit
agreement.
(c) A deferred payment
plan cannot exceed three years.
Notes
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