Atlanta, Georgia (PRWEB) January 23, 2015
Bennett Thrasher LLP is pleased to announce that the firm has been approved by the Empire State Development Corporation (“ESDC”) to perform agreed upon procedures to help entertainment companies claim New York tax incentives. Bennett Thrasher is already performing such procedures for film and television productions in the state, including productions with budgets over $150 million dollars. Bennett Thrasher is one of 15 firms selected nationally to perform such procedures.
New York offers film and television production companies refundable tax credits up to 35% of qualified production expenditures for production and post-production activities in the state. Previously, applicants for such credits had to wait for ESDC to review and confirm their qualified production expenditures. Effective January 1, 2015, ESDC elected to allow certain pre-qualified, independent accounting firms to perform agreed upon procedures (“AUP”) in verification of qualified production expenditures for applicants claiming film production credits.
In addition, ESDC announced that the new outside CPA procedures are available for applications for credits submitted in prior years. In such cases, applicants must contact ESDC to notify them that the prior application for credits is being withdrawn in order to take advantage of the new outside CPA procedures.
About Bennett Thrasher’s Entertainment Practice
Bennett Thrasher has been a leader in entertainment incentive consulting since 2008 and represents a substantial portion of the motion picture studios, television networks, independent film producers and digital entertainment companies creating entertainment content. Today, the firm’s entertainment practice, led by Peter Stathopoulos, has expanded to serve clients nationally and internationally, helping them to navigate the complexities of entertainment tax incentives and tax compliance. For more information please visit Bennett Thrasher’s website at http://btcpa.net/industries/entertainment/.
About Bennett Thrasher
Bennett Thrasher LLP is one of the largest Atlanta-based, full-service certified public accounting and consulting firms. The firm creates significant value and a unique positive experience through collaboration – with and between clients, partners, associates and the community. Founded in 1980 by Rick Bennett and Ken Thrasher, today Bennett Thrasher has a dedicated, experienced team of partners and associates who believe in the team concept of creating value by working “Better Together.” For more information please visit Bennett Thrasher’s website at http://www.btcpa.net.