Sound Recording Incentive Program

Sound Recording Incentive Program Tax Credits Program is subject to a cap of $2.16 million per year. Projects are subject to a $100,000 cap, per year. Apply Now 18% Project Based Production Credit for eligible production expenditures 18% Project Based Production Credit for eligible production expenditures Eligibility Requirements The program incentivizes sound recording, defined as a recording of music, poetry or spoken-word performance made in Louisiana and produced in Louisiana in whole or in part. A $25,000 minimum in expenditures is required, with a $10,000 minimum expenditure requirement for Louisiana residents. Qualifying sound recordings include: Recording, tracking and overdubbing of music and vocal performances Recording of film scores Recording of spoken word performance Recording of live musical performances Non-eligible expenditures: Producer fees in excess of 20% of the entire project budget are considered non-qualifying Expenditures associated with related party transactions may be limited as detailed in cost report guidelines All costs associated with and distribution are non-qualifying Eligible expenditures: Studio rental fees and associated fixed costs Artist and musician salaries directly related to a certified recording project Producer fees directly related to a certified recording project Mixing and mastering of a recording made in whole or in part in the State of Louisiana Instrument and equipment rental Hotel, airfare (when booked through a Louisiana travel agent), and catering expenditures directly related to a certified recording project Application Process 1 Complete application form. In order for the application to be considered received, ALL information and application fee must be submitted. 2 If approved, LED/OEID issues Initial Certification. 3 Track production expenses. 4 Submit a cost report with a deposit for the expenditure verification report. Then, an independent CPA selected by LED/OEID will begin their review and submit an expenditure verification report to LED/OEID. 5 If approved, LED/OEID issues Final Certification for the amount of the tax credit. 6 Louisiana Department of Revenue issues a rebate check. 1 Complete application form. In order for the application to be considered received, ALL information and application fee must be submitted. 2 If approved, LED/OEID issues Initial Certification. 3 Track production expenses. 4 Submit a cost report with a deposit for the expenditure verification report. Then, an independent CPA selected by LED/OEID will begin their review and submit an expenditure verification report to LED/OEID. 5 If approved, LED/OEID issues Final Certification for the amount of the tax credit. 6 Louisiana Department of Revenue issues a rebate check. Next Steps Initial Certification Complete and submit the application and fee in its entirety to OEID. Projects under $10,000 are not subject to an application fee. Once the application is complete, the project is evaluated for eligibility. Applicants to the sound recording production program must provide detailed accounting and verification of expenditures relating to All-In Producer Deals. Please refer to the  producer fee policy notice . If OEID determines that the project meets eligibility requirements of the statute and program rules, OEID issues an Initial Certification for that project or QMC. The applicant signs the Initial Certification letter and returns it to OEID. Prior to the issuance of the final certification letter, an expenditure verification report deposit shall be submitted accordingly to the following schedule. Production Size.                              Deposit Amount $10,000 – $24,999.99                    $750 $25,000 – $49,999.99                   $1,500 $50,000 – $99,999.99                   $2,500 $100,000 – Above                         $3,750 Final Certification