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New greenlit Georgia law provides $25 million in video game tax breaks

Lawmakers in the state of Georgia have recently passed a piece of legislation that offers tax breaks to a myriad of industries including food banks as well as interactive entertainment.

Atlanta Skyline

Georgia legislators have signed a bill into effect that provides $25 million in tax credits to various institutions, including interactive game developers within the state.

The bill, known as House Bill 958, gives tax relief to a broad range of fields including humanitarian efforts like food banks and even offers incentives to switch to eco-friendly alternative fuel sources. Entertainment production companies, such as video game development studios, also benefit from the new bill:

“A BILL to be entitled an Act to amend Title 48 of the Official Code of Georgia Annotated, relating to revenue and taxation, so as to change certain provisions relating to the state income tax credit for qualified entertainment production companies.”

Game devs within Georgia include Hi-Rez Studios (Smite), Tripwire Interactive (Rising Storm), TransGaming (Luxor), CCP Interactive (EVE Online) and other studios like Kaneva and Blue Heart. Even with these newly offered credits, however, CCP Interactive has recently announced multiple layoffs and the cancellation of World of Darkness, a dark fantasy MMO with eight years of development under its belt.

In any case, House Bill 958 will benefit a variety of institutions within the state, propelling both game development and community food relief efforts in one fell swoop.

Via Gamasutra

Derek Strickland
http://www.vrzone.com
Derek is an avid fan of gaming and everything geeky, and is compelled to make his mark in the field of games journalism. When he's not gaming on a console (everything from SNES to X360) you can find him reading about ancient civilizations or enjoying a fantasy epic or two.

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