DES MOINES, USA - In a first settlement of its kind, a film production company has been awarded over $400,000 to settle a tax credits despite.
The lawsuit filed against Iowa's film program led it to being suspended. The total awarded by the state of Iowa to the production company stands at over $700,000 including tax credits that had previously been awarded to After Dark Films.
As the proceedings have continued since the disastrous film program was closed, the state continues to review all its other remaining divestment in local programs.
To add to the troubles, other productions shot in the region are still waiting for tax credits, whilst $26 million in credits were improperly issued - DMREG.com.
On top of the misappropriated funds by the film program, only $6 million in credits were viable for the projects submitted to the state.
The film program has been a great embarrassment to the regional government and has sparked anger as to why filmmakers were allowed to abuse funds funded by tax payers.
Head of Iowa Film Office, Tom Wheeler, faces trial in January 2011 and others have also been indicted on charges of misconduct and abuse.
Film production programs and tax breaks
Whilst the Iowa Film Office failed to live up to its expectations there are a lot of tax break opportunities for productions across America. Below are several regional offices that may be of use if you are shooting your next production out of state.
