Tax Officers Summit XXIV 2019

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  • Tax Credits, LLC:
    Reducing the Tax Burden through Tradeable Film Tax Credits

    Bruce Deichl from Tax Credits LLC, a solution provider at the marcus evans Tax Officers Summit X 2010, on taking advantage of tradeable film tax credits.

    Interview with: Bruce Deichl, President, Tax Credits, LLC


    “Purchasing tradeable film tax credits is an easy and effective way for tax officers to save their corporations money”, says Bruce Deichl, President of Tax Credits, LLC in New Jersey.  “A company would have to generate millions in extra revenue to achieve the same ‘below the line’ results that the company would realize by purchasing tax credits. And with the recent proliferation of states with programs, corporations have ample opportunity to participate.” Deichl will offer his expertise on film tax credit purchasing programs, in Las Vegas, Nevada, November 4-6, at the marcus evans Tax Officers Summit X 2010.

    How can companies take advantage of tradeable film tax credits?

    Bruce Deichl: Many do not realize that a vast majority of film production over the past 15 to 20 years has been shot outside the US. It was cheaper to shoot in Canada, due to the incentives offered to the studios. Unfortunately, the US lost billions of production dollars. Now, 40+ states are incentivizing film production by offering tax credits and rebates to studios and independents. As a result, a significant amount of filming has returned to the US.

    In at least 15 states, tradeable film tax credits are awarded to the production companies. These certificates may be used by the studio to offset a state tax liability, but more often, they are sold to another eligible taxpayer at a discount. This is a risk-free way for purchasing companies to save money by lessening their tax burden. Consider this: if a company has a one per cent profit margin, it would have to generate approximately USD 45 million in extra revenue to achieve the same savings as buying USD 10 million in credits. And we handle the transaction for them!

    What do tax officers need to consider beforehand?

    Bruce Deichl: The rules of the programs differ slightly in every state. We provide all the information necessary (like legislation, rulings, tax guidance, etc) for the tax officer to make an informed decision, but ultimately, these purchases have to make economic sense.  

    Why are you working on changing the legislation, and what have you achieved?

    Bruce Deichl: We have been working with state film offices and legislators to make programs more marketable. Our goal is to be sure that there is no risk to the good faith buyer. 

    For example, four years ago, half of the states allowed for recapture, whereby the state retained the right to take credits back from a buyer if they discovered that too large a credit was issued, due to an error on the part of the studio. However, it is simply unacceptable to have tax officers bear the burden of purchasing potentially problematic credits, regardless of how remote the risk. We have made suggestions so that both the state and the buyer are fully protected and have been able to change legislation in six states so far, and are working on two more. Under no circumstances should there be risk to the buyer.

    Sarin Kouyoumdjian-Gurunlian
    Press Manager
    marcus evans, Summits Division
    Tel: + 357 22 849 313

    About the Tax Officers Summit X 2010

    This unique forum will take place at the Red Rock Casino Resort & Spa, Las Vegas, Nevada, November 4-6, 2010. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The summit includes presentations on transfer pricing, international tax and tax planning.

    For more information please send an email to or visit the event website at

    Please note that the summit is a closed business event and the number of participants strictly limited.

    About marcus evans Summits

    marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit 

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