Georgia Film Tax Credit

In 2008, Georgia passed a law authorizing film production companies the right to credits against their tax liability or to sell those credits to any GA taxpayer in order to induce them to film in GA. There is a market for the credits which sell at a discount and are sold to the public by various private companies. I did it myself on my 2012 tax return receiving a $1,130 credit for $1,000. There is no maximum on the amount of credits you can buy. All you have to do on your tax return is list the company you purchased the credit from, the amount of the credit, the Federal ID number, and use code 122 on page 5 of GA form 500. Tax credits can be carried forward for 5 years if you can't use all of them in one year.