Developers could get a decent 25 percent tax credit on production cost if their products bear a "Made in Massachusetts" logo. According to data provided to Develop by a tax specialist firm, any developer making less $1 million would be eligible for the 35 percent payroll credit. The savings would not be transferred to individuals, but to studio accounts. In other words, if the bill were to be passed, Massachusetts studios could attract better talent with bigger wages.
The information comes from a new Develop feature that taps two executives from specialty tax services provider Alliantgroup, who details the benefits of the bill. Alliantgroup managing director Dean Zerbe and senior associate Angelique Garcia said that the proposed tax breaks for video game studios would turn Massachusetts into a "safe haven" for games studios.
The Massachusetts bill was put forward in April this year, but (thus far) no decision has been made by lawmakers. If enacted, Massachusetts would join several states that offer tax breaks to game developer tax breaks. Those states include Alabama, Arkansas, Connecticut, Florida, Georgia, Hawaii, Kentucky, Maine, New Mexico, North Carolina, Ohio, Rhode Island, Texas, Virginia and Wisconsin.
Massachusetts already offers tax breaks for film production.
Source: Develop
