Maine Certified Visual Media Production Credit

Certified Visual Media Production Credit
2023 Visual Media Production Credit Worksheet
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Certified Visual Media Production Credit
Worksheet for Tax Year 2023
36 M.R.S. § 5219-Y

Enclose with Form 1040ME, Form 1041ME, or Form 1120ME.
Taxpayer Name:___________________________________________________ EIN/SSN: ________________________
Date visual media production completed:________________________________
Note:	 In the case of pass-through entities (such as partnerships, LLCs, S corporations, and trusts) eligible for the credit, the
partners, members, shareholders, beneficiaries, or other owners are allowed a credit in proportion to their respective
interests in these entities. Enter name and ID number of the entity on the lines below. Also enter your ownership percentage
in the pass-through entity for the tax year. Attach a copy of the federal Schedule K-1 issued to you by the pass-through
entity.

	
Name of Pass-through Entity	
EIN/SSN	
			
_____________________________________________________ 	

Ownership
Percentage

______________________ 	 _____________ %

	Important:

	
	

• 	 Businesses claiming the Pine Tree Development Zone income tax credit are not eligible for this credit.
• 	 To claim the credit, you must attach a copy of the visual media production certificate issued by the Department 	

	

• 	 MRS may request additional information supporting the credit claimed before the return can be processed.

		

of Economic and Community Development.

1.	 Visual media production expenses (see instructions)......................................................... 1.	 ____________________ 	
	Note: 	If less than $75,000, STOP here; you do not qualify for the credit. Owners of pass-through 	
		
entities, see instructions for line 1.

.05
2.	 Credit rate........................................................................................................................... 2. 	____________________
	
3 .	 Certified visual media production credit (line 1 multiplied by line 2). Enter the result
	
here and on Form 1040ME, Schedule A, Other Tax Credits Worksheet, Line 7;
	
Form 1041ME, Schedule A, line 13; or Form 1120ME, Schedule C, Line 1l...................... 3.	 ____________________	

Note: Any unused Certified Visual Media Production Credit may not be carried back or forward to other tax years.

Revised: December 2023

2023 Certified Visual Media Production Credit
Worksheet Instructions
General Instructions
The certified visual media production credit is based on visual media production expenses, defined below. To claim the credit,
a visual media production company must obtain a visual media production certificate from the Department of Economic and
Community Development (“DECD”). For more information on how to apply for a visual media production certificate, go
to www.filminmaine.com/incentives. The credit is available to corporations (Form 1120ME), individuals who are owners/
members of pass-through entities and sole proprietors (Form 1040ME), estates and trusts (Form 1041ME). The credit is
available only for the tax year during which the visual media production is completed.
Visual media production expenses are expenses incurred in Maine for preproduction, production, and postproduction
with respect to a certified visual media production including construction costs; operations; editing and related services;
music, photography, and film processing, including transferring film to tape or digital format; sound recording, mixing, and
synchronization; lighting, makeup, wardrobe, and accessories; transportation; food and lodging for cast and crew; insurance
and bonding; rental of facilities and equipment, including location fees; and any other expenses incurred in Maine with
respect to a certified visual media production not specifically excluded by law (5 M.R.S. § 13090-L).
Visual media production expenses do not include the following: marketing, advertising, printing, or disseminating a visual
media production; wages, salaries, commissions, or any other form of compensation or remuneration paid to employees
for personal services; payments made to temporary employee-leasing companies; payments made to performing artists;
and contractual payments for the service of individuals working in Maine for which reimbursement was claimed under the
certified visual media production reimbursement program (36 M.R.S., Chapter 919-A and Maine Form 841ME) or for which
reimbursement could have been claimed but for the $50,000 limitation.
In the case of pass-through entities (such as partnerships, LLCs, S corporations, and trusts), the partners, members,
shareholders, beneficiaries, or other owners are allowed credits in proportion to their respective interests in these entities.

						Specific

Instructions

Line 1.	 Enter the total visual media production expenses incurred, as described in the general instructions above. If you
are an owner in a pass-through entity, enter on line 1 only that portion of the visual media production expenses
that reflects your ownership percentage in the entity. Your portion may be less than $75,000. This amount should
be provided to you by the pass-through entity.