Rhode Island Code of Regulations
Title 280 - Department of Revenue
Chapter 20 - Division of Taxation
Subchapter 20 - TAX CREDITS/DEDUCTIONS
Part 5 - Rules and Regulations for the Certification of Motion Picture Production Tax Credits (280-RICR-20-20-5)
Section 280-RICR-20-20-5.12 - Cost Report

Universal Citation: 280 RI Code of Rules 20 20 5.12

Current through September 18, 2024

A. As a part of the completed application for final certification of the production and the basis on which the credits are calculated, the production costs and Cost Report are crucial to the film office's and the Division of Taxation's deliberations concerning the certification of the production. As part of the final certification, the Cost Report must be accompanied by an "accountant's certification" of the items to which it pertains. The film office and the Division of Taxation may rely, without independent investigation, upon the accountant's certification confirming the accuracy of the information included in the Cost Report as well as the motion picture production company's compliance with R.I. Gen. Laws §44-31-2.2(5).

B. The cost report is a crucial part of and an attachment to the application for final certification of a production. The cost report shall be in a format as prescribed by the tax administrator, and must state:

1. the date of completion of the production in the State of Rhode Island,

2. the amount and listing of production costs incurred and actually paid within the State of Rhode Island with respect to the production as set forth in the rules herein, and

3. that the total production budget is at least $100,000.

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