Compilation of Rules and Regulations of the State of Georgia › Department 159 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter 159-1 - FILM, MUSIC & DIGITAL ENTERTAINMENT DIVISION › Subject 159-1-2 - MUSICAL TAX CREDIT › Rule 159-1-2-.01 - Musical Tax Credit

Current through Rules and Regulations filed through June 27, 2024
(1)
Purpose.
This regulation
				provides guidance concerning the implementation and administration of the tax
				credit under O.C.G.A. §
									48-7-40.33.
(2)
Coordination of Agencies.
The Department of Economic Development is the state agency responsible for
				certifying which projects qualify for the tax credit under O.C.G.A. §
									48-7-40.33. The Georgia Department
				of Revenue is the state agency responsible for administering tax credits earned
				under O.C.G.A. §
									48-7-40.33.
(3)
Cross-Reference.
These
				regulations shall be construed in harmony with the regulations of the Georgia
				Department of Revenue, Income Tax Division, Chapter 560-7-8, Returns and
				Collections, Rule
				560-7-8-.61, titled Musical Tax
				Credit.
(4)
Definitions.
(a) As used in this
				regulation, the terms "musical or theatrical performance","production
				company","qualified production activities","qualified production
				expenditures","recorded musical performance","resident","spending
				threshold","state certified production", and "total aggregate payroll" shall
				have the same meaning as in O.C.G.A. §
										48-7-40.33.
(b) The term "Certification Letter" means
				that letter issued by the Department of Economic Development certifying that a
				musical or theatrical performance or recorded musical performance qualifies as
				a state certified production.
(c)
				The term "Music Composition" means a single, uninterrupted, continuous song,
				instrumental, or musical score. The term "Music Composition" shall not include
				a series of songs compiled into an album.
(d) The term "Musical Tax Credit" shall refer
				to O.C.G.A. §
										48-7-40.33.
(e) The terms "Originates" and "Developed"
				mean that for a musical or theatrical performance, substantially all of the
				qualified production activities and qualified production expenditures incurred
				to prepare a musical or theatrical performance seeking certification under the
				Musical Tax Credit to make a public performance or a series of performances
				before a paying live audience were undertaken in this State.
(f) The term "Pre-Certification Letter" means
				that letter issued by the Department of Economic Development providing a
				pre-certification that a musical or theatrical performance or recorded musical
				performance has satisfied the criteria and may apply for preapproval with the
				Department of Revenue.
(g) The term
				"Production Site" means as follows:
1. With
				respect to a musical or theatrical performance, the site or sites where the
				production is developed, prepared, planned, rehearsed, or performed.
2. With respect to a recorded musical
				performance, the site or sites where the production is prepared, planned, or
				recorded.
(h) The term
				"Project" means a musical or theatrical performance or recorded musical
				performance seeking to qualify as a state certified production.
(i) The term "Series of Performances" shall
				mean and refer to a musical or theatrical performance at multiple locations or
				venues by the same artist or artists over the course of a 12 month or longer
				period.