Director Production Incentives

Job Description

A Director, Production Incentives is required to manage US Production Incentives (including Canada) for Discovery's US Networks as well as Economic Development Projects, as these projects arise, and particularly where focused on driving commissions to a desired location, such as the new 2020 Tennessee project focused on driving productions to the recently refurbished studios in Knoxville. This role replaces the role Lora Butler held initially as a Discovery employee and then in Lora's contract role through Bennett Thrasher. Currently this role is responsible for identifying and managing $10 million in annual PTCs with the goal of growing annual PTC opportunities for Discovery.

Responsibilities

The role will span a wide range of production financing, grant, and tax incentive matters, and will include:

1. Partner with US Production Management team to identify production tax credit opportunities:
• Participate in biweekly/tri-weekly network production meetings (by phone)
• Follow-up with PMD on creating potential opportunities in advance of green lighting
• Once or if business travel resumes, limited travel for in-person meetings alternating between New York, Tennessee and Los Angeles or to Film Office locations, if approved
• 1:1 with Todd every 2 weeks or as needed

2. Develop and maintain film office and state revenue department relationships:
• Monitor and communicate to PMD and the Creative Teams, PTC opportunities and statutory/regulatory/administrative changes to production incentive programs
• Research, develop and provide ''Quick Reference'' charts/summaries to PMD and Creative
• Serve as technical resource for PMD and third-party production partners
• Create new opportunities for Discovery where possible (for example, New York, Louisiana; digital; influencing legislative changes)

3. Production Tax Credit Applications:
• In conjunction with PMD determine who will be the applicant of record

• Complete and file the application when Discovery is the applicant

• Coordinate completion and filing of application if Production Co. is the applicant

• ▪ Maintain copies of any application filed for a Discovery commissioned project

• ▪ Copies and involvement on co-pros is TBD based on the facts of the individual project

• Provide PMD with state specific PTC requirements for applicable state

• Logo requirements

• State identification/registration requirements

• Manage withholding tax requirements on Talent and Crew

• Ensuring contemporaneous documentation to support the PTC applications through audit

4. Monetize production tax credits:
• Manage audits of production tax credits to maximize benefit

• Engage auditor

• Review cost reports and reconcile differences

• In conjunction with legal department negotiate sale agreements

• In coordination with the Tax Team, communicate credits that will be monetized on Discovery's state tax returns and ensure settlement with the network

• In conjunction with business affairs revise PTC section of production company agreements, when and if warranted

• In conjunction with content accounting manage accounting to clear receivable balances

• Process invoices for Production Company share of credit/admin fees

• Ensure settlement with network

5. Track/monitor estimated net value of credit:
• Estimate net value of the credit

• Administrative fees (application fees, CPA audit, etc.)

• Market rate for sale of credits

• Monitor up-orders, changes in budgets, etc.

• Quarterly meetings with PMD & network finance to determine timing/amount of PTC to be recognized

• Evaluate credit risk and discuss whether to adjust asset before credit is realized

• Update and manage incentive tracker

Requirements

At least 8 - 10 years of tax work with a focus on credits and incentives in the media sector:
• Experience and existing relationships in working with the Film Offices across the US
• Experience in working directly with production executives and understanding what is included in a production budget to translate this into incentive and financing opportunities
• Experience with managing sales tax and withholding tax
• Experience in advising and assisting Finance & Accounting teams with accounting for above the line credits, including forecasting, actuals, intercompany and reserves
• Experience in driving policy and legislative initiatives supporting a media and entertainment business
• Excellent oral and written communication skills
• Excellent tax research skills
• Excellent excel and powerpoint skills
• Must have the legal right to work in the United States

Nearest Major Market: Atlanta

Jobcode: Reference SBJ-g36mm9-3-145-94-251-42 in your application.