fbpx

Oregon Production Investment Fund Tax Credit Auction

What if I told you there was a way to ensure your tax dollars are spent on something you care about, and it might even save you money, too? Buying production tax credits lets you control where your tax dollars go and can save you up to 10% on your Oregon state taxes—personal or business.

The state tax incentive program helps retain, recruit, and promote film, television, commercial, animation and interactive work in Oregon and supports a robust pool of talent, equipment, resources, and support your projects can draw on. Some of our local talent and vendors might not be here without the business of incentivized productions like Shrill, American Vandal, Documentary Now! and Pretty Little Liars: The Perfectionists.

 

HOW THE OPIF PROGRAM WORKS

When you buy tax credits, the OPIF program has funds to attract/keep productions in Oregon, place paid interns on set, and offer grants to local producers.

Out of state productions hire local crews (at living wages), stay in our hotels, eat at our restaurants, rent our equipment. Projects that are born in Oregon and supported by the program make sure our talent doesn’t have to find work elsewhere. The economic impact is huge. Local productions accounted for $117 million in spending on labor and $60 million on goods and services in 2018 alone.

In short, the incentive program is critical to the underlying success of our industry as a whole. We’ve seen 17 times the production spending in-state since the program started. It’s done well for us in the past, and we want to make sure it stays that way. However, the incentive program isn’t self-funded. It depends on people like you buying tax credits through the auction each fall. 

 

Should I buy production tax credits?
We’ve heard it from multiple accountants—the answer is a resounding “Yes!”

Why should I buy these tax credits?

1. Save money: Get your taxes “on sale” for up to 10% off.
2. Support your local media production industry and professionals.
3. Choose exactly where the government spends your taxes.

 

HOW THE AUCTION WORKS

So, how do you actually get these tax credits? The online auction is open from September 30 through October 4. You can bid as low as 90% on as many $500 tax-credit increments as you want. The bidding process is honestly easy and only takes a few minutes. Come April, you can relax knowing you’ve already paid your taxes. And if your state taxes are less than you expected, you have three years to use your credits.

  1. BID: Submit your bid on the auction website between 9am PT on Monday, September 30 and 5pm PT on Friday, October 4. 
  2. SIGN: Complete form OR-TCA for each bid you submit.
  3. PAY: Gather full payment in the form of a certified check, cashier’s check, or money order made payable to Oregon Dept. of Revenue. Deliver your payment by mail or in-person by [2019 date TBD].
    • Mail: Oregon Dept. of Revenue, Attn: Tax Credit Auction, PO Box 14600, Salem OR 97309-5049
    • Hand deliver: Oregon Dept. of Revenue, 800 NE Oregon Street, 5th floor, Portland OR

Wait 2-4 weeks to hear the results. If your bid wins, you’ll receive a tax credit certificate in the mail. If you are outbid, your payment will be returned to you. 

RESOURCES