334-P: Credit for Motion Picture Production Costs – Distribution to Partners (2025)
Arizona · Arizona DOR · Used for tax years 2025
Arizona Form 334-P reports a partner’s share of a partnership’s Credit for Motion Picture Production Costs, approved production expenses, and any credit to be recaptured. Partners use it to complete their own Form 334 and report the production expense addback when calculating Ari
Who files this form
Partnerships distributing the Credit for Motion Picture Production Costs must complete a separate 2025 Form 334-P for each partner, except trust or estate partners.
If a partnership share is owned by a grantor trust that is disregarded for federal income tax purposes, the share is treated as owned by the grantor. The grantor may claim their share of the credit.
Partners use the completed Form 334-P to complete their own Form 334 and include Form 334-P with their return.
What you'll need
To complete Form 334-P, have:
- The partnership’s name, Employer Identification Number (EIN), and Priority Placement Number.
- The partner’s name, Taxpayer Identification Number (TIN), and ownership percentage.
- The partnership’s Form 334, including the credit amount from Part 1, line 6, and any recapture amount from Part 2, line 12.
- The partnership’s approved motion picture production expenses.
- For a recaptured credit, its Priority Placement Number and the date that number was recaptured.
The partnership must provide each partner with the completed Form 334-P and a copy of the Post-Approval received from the Arizona Commerce Authority. Partners must include both with their return.
How to file
Partnerships:
- Complete Form 334-P for each eligible partner.
- In Part 1, multiply the partnership’s credit by the partner’s ownership percentage to calculate the partner’s credit share.
- In Part 2, multiply approved production expenses by that same percentage to calculate the partner’s expense share.
- In Part 3, report the partner’s share of any credit determined to be incorrect.
- Give each partner the completed form and the Arizona Commerce Authority Post-Approval.
- Include a copy of each completed Form 334-P with the partnership return and keep copies for your records.
Partners:
- Enter Form 334-P, line 3c, on your Form 334, Part 1, line 4.
- Add back the amount on line 4b when calculating your Arizona taxable income.
- Enter any recapture amount from line 5d on line 10 of your Form 334.
- Include Form 334-P and a copy of the Post-Approval with your return. Keep copies of both.
The form does not provide a mailing address or e-filing directions.
Common mistakes
Claiming the credit in the wrong tax year: The form notes that if you file on a calendar-year basis but the partnership files on a fiscal-year basis, you must claim the credit on your return for the year in which the partnership’s fiscal year ends.
Questions people ask
How is my share of the credit calculated?
The partnership multiplies its credit amount on line 3a by your ownership percentage on line 3b. Your share appears on line 3c and goes on your Form 334, Part 1, line 4.
What do I do with the production expenses on line 4b?
Line 4b is your share of the motion picture production expenses. Add back that amount when calculating your Arizona taxable income.
What does the recapture amount on line 5d mean?
It is your share of the credit that has been determined to be incorrect. Enter it on line 10 of your Form 334.
Do I need to include the Arizona Commerce Authority Post-Approval with my return?
Yes. Partners must include both the completed Form 334-P and a copy of the Post-Approval with their return, and keep copies for their records.