Tax Credit Auction Information

Tax Credit Auction for the Oregon Production Investment Fund (OPIF)

Support an industry and get a tax break!

Through an annual online auction for the Oregon Production Investment Fund, $20M (as of 2021) of Tax Credits can be purchased in $500 increments with a minimum bid of $450 (90%) per increment. Purchasers can bid on as many increments as they like.

The OPIF Tax Credit Auction site can be found here

Sign up for our OPIF Tax Credit Auction Newsletter by going here

The Annual OPIF Tax Credit Auctions was held during from September 27, 2021 to October 1, 2021 where $20M of state tax credits were sold at auction.

Please also see the IRS Notices regarding State Tax Credit Programs linked below.

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Did you know that the film, television, animation and interactive industry is now directly spending more than $200M and supporting more than 4000 jobs per year?

On top of that, a single television series will engage with as many as 300 different local vendors during a season, and some series will go for 5, 6, 7 and even 8 seasons (years) here in Oregon.

In addition, Oregon is now recognized as a place to create award winning content - from Emmys to Oscars and Cannes "Lions" to BAFTAs - and this helps bring in even more income to the state through increased notoriety and tourism.

And this is felt throughout the state.

This work is growing. By way of example, during a very unusual 2019-2020 fiscal year, Oregon welcomed series productions like "Top Chef," "Shrill" and "The Birch" while feature films from Netflix and Sony found locations in Curry & Coos counties spending nearly $500k in local accommodations during a time when hotels and restaurants were struggling in all of the regions of the state. On its own, "Top Chef" brought a wide international audience to places like Hood River, Tillamook, Cascade Locks, the Willamette Valley and the struggling restaurants of Portland on a weekly basis while smaller series like "The Birch" used remote Washington County as its backdrop.

And all of this work is supported through the Oregon Production Investment Fund and that fund is dependent on the sale of tax credits, via online auction, to Oregon tax payers.

Here's some specifics:

* Tax Credits can be purchased at auction in $500 increments with a minimum bid of $450 (90%) per increment.

* Purchasers can bid on as many increments as they like.

* In the case of more bids being received than there are tax credits available, the highest bid wins; in the case of a tie between bids, then the earliest timestamped bid wins.

* All payments for all bids (in the form of bank-issued cashier’s checks, bank-issued certified checks, or money orders) and Form TCAs must be received by Friday after the close of bidding and all unsuccessful bids (if any) will have their checks returned the following week.

The direct link to the auction site can be found here.

The information for this specific OPIF auction will go up on the Dept. of Revenue (DOR) site near to the auction date, but you can find out more information about this process below as well as on this page of our site.

Sign up for our OPIF Tax Credit Auction Newsletter by going here

The IRS has recently issued final regulations about the treatment of state tax credits. This is in addition to this clarification for businesses utilizing tax credits. In addition, in 2018 IRS issued this notice in relation to the Tax Cuts and Jobs Act as well as issued these proposed regulations on charitable contributions and state and local tax credits. Please consult your tax advisor if you have questions about the IRS treatment of purchased state tax credits.

Questions for us? Click here.

The most important points to know right now:

The 2021 OPIF online auction took place from September 27, 2021 to October 1, 2021.

Questions for us? Click here.

Some details about the auction itself:

* No bids will be accepted before or after the designated times.

* Bidders must submit payment along with Form TCA by the Friday following the auction closing. Bank-issued cashier’s checks, bank-issued certified checks, or money orders made payable to Oregon Department of Revenue are the only acceptable forms of payment.

* All payments must be accompanied by a completed Form TCA.

* The credit certificates will be in $500 increments and the minimum bid is $450.

* You can claim your credit on your personal Oregon tax return (Form OR-40) where the tax credit is recorded on line 28, page 2. The credit is also then be given more detail in the filing via Schedule OR-ASC, line 4a.

Oregon Governor’s Office of Film & Television • 850 SE 3rd Ave, Suite 405 Portland 97214 • Phone: (971) 254-4020 • Email: shoot@oregonfilm.org
"Oregon Film" & logo and the "Oregon Made" stamp logo are trademarked by the Oregon Governor's Office of Film & Television.
All rights reserved.