Importance of finding a good broker for digital media tax credits

FBT Film's Leonard Alsfeld featured in recent article

While the film incentive programs created by the state of Louisiana in 2002 have earned a lot of ink in the press, the lesser known Digital Media Tax Credit is beginning to have a significant impact of its own on the local business climate. Stories such as those of tech firm Carrollton Technology Partners in New Orleans highlight the success of the program and its underlying impact on the business community. But you may not know that a major factor in having success with Digital Media Tax Credits is finding a broker who understands the process and is ready to step in and make quick decisions. Brokers like FBT Film & Entertainment purchase these digital media credits, which literally puts cash in the pockets of business owners and managers.

• Read the story of how Carrollton Technology Partners used digital media tax credits to land new business.

Companies utilizing tax credits can add additional profit or incentives to a job if necessary in order to win the project. And under new laws for 2012, digital media firms will be eligible for the same 85% direct refund that film producers are currently eligible for.

The Role of Brokers

In the world of digital media, finding a good broker to help you understand the available opportunities and utilize them in your business has never been more important – especially with increasingly complicated paperwork and regulations. "In many cases, we've become the advocate to help them learn," said Leonard Alsfed, President of FBT Film and Entertainment. "They (digital media firms) need great counseling throughout the whole process."

• Read more about how tax credit brokers help businesses close deals