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Did You Know?
Your business has potential to be profitable at any revenue level. With mindful pricing and proper resource planning, you can ensure your business is profitable - even as you're growing it.
You’ll also be able to assess and adequately manage cash requirements. No more surprises
or late night anxiety.
Selling your business isn’t the only way to build wealth. Great business owners mine value from their business long before a sale:
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They pay themselves an adequate base salary.
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They set up retirement plans and contribute as much as their household budgets allow and tax code permits.
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They design benefits that attract top talent and help leverage the business to meet personal financial needs (e.g., health insurance, life and disability insurance, long-term care).
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They strategically plan and pay themselves performance-based dividends or distributions.
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When it makes sense, they purchase real estate to house their business.
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They have an exit plan. They create things (e.g., intellectual property, patents, applications, brand, book of business) that build value so they can attract future buyers or transition valuable assets to their heirs.
Don’t wait for a sales windfall. Start building wealth from your business today.
Your business can be a platform for your higher purpose. Use your business knowledge to sit on boards, coach other businesses or mentor potential business owners/leaders. Use your business’s wealth to invest in new businesses or establish a charitable remainder trust as a vehicle for philanthropic work.
PROFIT. WEALTH. IMPACT. PURPOSE.
BUILD VALUE BEYOND THE NUMBERS.
Illinois has one of the most successful tax credit programs in the country. The program has issued over 700 credits since its inception in 2008 and helped Illinois become home to the second largest sound stage in North America.
Illinois’ film tax credit has no cap on the amount of credit a production can earn or number of applications for the tax credit program. You just have to meet minimum spends with Illinois vendors and residents. Spend a minimum of $50,000 with Illinois vendors and/or employing Illinois residents for projects less than 30 minutes or $100,000 for projects 30 minutes and longer.
You can sell your Illinois tax credit for an average of
$.88 - $.92 cents on the dollar. Use your proceeds to
pay for post-production editing or promotion, secure investor funding, etc.
Apply before you buy (or film)! You must apply for the Illinois film tax credit before you begin filming—no exceptions. Applications for commercials are due 24 hours prior to filming. Applications for all other projects are due 5 business days prior to principal photography work.
