Entertainment Industry Jobs Act Tax Credit Program

This program was enacted in 2023 through the Entertainment Industry Jobs Act, §135.753, RSMo, and is designed to expand Missouri’s live-music manufacturing industry by providing incentives for touring artists to rehearse and perform in state. Eligible artists can receive a tax credit equal to 30% of their total rehearsal and tour expenditures on Missouri-based both, throughout the duration of the tour. Credits may be awarded for 30% of eligible expenses up to $3 million per taxpayer per fiscal year. The budget allocation is $8 million annually beginning in the 2024 fiscal year. Eligibility for the tax credit is restricted to a musical performer or performers or a concert tour management company of a musical performer or performers subject to tax under Chapter 143, RSMo. An applicant must meet all (3) of the following “Minimum Rehearsal and Tour Requirements” during a rehearsal or tour to be eligible for a tax credit: Did you purchase or rent concert tour equipment, or related services from Missouri vendors, or both, of at least $1 million, for use in the rehearsal, on the tour, or both? Did you hold rehearsals at a Qualified Rehearsal Facility for a minimum of 10 days? Did you hold at least 2 concerts in Missouri? Individual Tax Credit Limitations If a taxpayer’s base investment is: Less than $4 million à Maximum award is $1 million At least $4 million but less than $8 million à Maximum award is $2 million At least $8 million à Maximum award is $3 million View the Program Guidelines and learn the full application process Application Process Summary Eligible artists can submit a preliminary application to the Missouri Film Office ( [email protected] along with any required supplemental documents. Information required in the Preliminary Application includes: Projected rehearsal dates; Projected tour dates; The Estimated Qualified Expenses Worksheet. The preliminary application and all supplemental documents must be submitted before the first day of rehearsal in Missouri. If approved, a preliminary letter of approval will be sent to the applicant containing the amount of authorized tax credits and outlining the conditions that the rehearsal and tour must meet for final issuance of tax credits. An applicant that received preliminary approval and has completed the required rehearsal and tour schedules will submit a Final Application for issuance of tax credits Once the tour has concluded, the applicant must submit their Final Application and accompanying materials within (120) days of the last qualified expense incurred in Missouri, or within (120) days of the last date of payroll distribution to Missouri residents for services rendered during the approved rehearsal or tour, whichever is later. Information required in the final application includes: A list of actual rehearsal days in Missouri A list of actual dates and locations of tour concerts, at least (2) of which must be in Missouri; and The Final Qualified Expenses Worksheet, including either the Final Payroll Report or a report prepared by a Certified Public Accountant (CPA).

Eligibility for the tax credit is restricted to a musical performer or performers or a concert tour management company of a musical performer or performers subject to tax under Chapter 143, RSMo. An applicant must meet all (3) of the following “Minimum Rehearsal and Tour Requirements” during a rehearsal or tour to be eligible for a tax credit: Did you purchase or rent concert tour equipment, or related services from Missouri vendors, or both, of at least $1 million, for use in the rehearsal, on the tour, or both? Did you hold rehearsals at a Qualified Rehearsal Facility for a minimum of 10 days? Did you hold at least 2 concerts in Missouri? Individual Tax Credit Limitations If a taxpayer’s base investment is: Less than $4 million à Maximum award is $1 million At least $4 million but less than $8 million à Maximum award is $2 million At least $8 million à Maximum award is $3 million