Tax – The Georgia film credit can offset Georgia state income tax.
Recapture – There are no recapture provisions for film credits.
Carryforward – Unused credits may be carried forward 5 years. Sale of prior year credits can be done and the taxpayer may amend that year’s return as long as the 5 year carry-forward has not expired.
Transferability – Credits can be transferred one time through the use of an IT-TRANS form.