‘Mall Cop’ movie gets first film tax credit
March 15, 2014
Sony Pictures' "Mall Cop: Blart 2" has won the first film tax credit awarded by the Nevada Film Office.
Eric Preiss, head of the film office, said the production is eligible for a $4.3 million tax credit provided that filming takes place in Nevada and production costs are in line with those in the application.
The program was heavily lobbied during the 2013 legislative session, including by actor Nicolas Cage, who testified it could bring major productions and attendant economic benefits to the state.
The film tax credits are transferable, which means the picture company doesn't have to use them itself but can sell them to other industries including casinos, which can then offset their tax burden with those credits.
Lawmakers and Gov. Brian Sandoval approved a maximum $20 million in tax credits the state can give to motion picture companies that agree to bring their business to Nevada.
In its application, Sony projected total expenditures of $22.5 million in direct production expenses and total Nevada spending of $32.2 million on the film.
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Sony's application was heard Feb. 24. The next three applications for film tax credits will be heard April 14.