334-S: Credit for Motion Picture Production Costs – Distribution to Shareholders (2025)
Arizona · Arizona DOR · Used for tax years 2025
Arizona Form 334-S reports an S corporation shareholder’s share of the Credit for Motion Picture Production Costs and approved production expenses. It also reports the shareholder’s share of any credit determined to be incorrect and subject to recapture.
Who files this form
S corporations use 2025 Arizona Form 334-S to report each shareholder’s share of the Credit for Motion Picture Production Costs, production expenses, and any credit recapture.
The S corporation must complete a separate form for each shareholder, except for “trust or estate partners,” as the form states. If an ownership share is held by a grantor trust disregarded for federal income tax purposes, the grantor is treated as the owner and may claim their share of the credit.
Shareholders use the completed Form 334-S to complete their own Form 334 and include Form 334-S with their return.
What you'll need
To complete Form 334-S, have:
- The S corporation’s name, employer identification number (EIN), and Priority Placement Number.
- The shareholder’s name, taxpayer identification number (TIN), and ownership percentage.
- The S corporation’s Form 334, including the credit amount from Part 1, line 6, and any recapture amount from Part 2, line 12.
- The S corporation’s approved motion picture production expenses.
- For a recaptured credit, its Priority Placement Number and the date that number was recaptured.
The S corporation must give each shareholder a completed Form 334-S and a copy of the Post-Approval received from the Arizona Commerce Authority. Shareholders must include both documents with their return and keep copies for their records.
How to file
S corporations: Complete Form 334-S for each applicable shareholder. Provide each shareholder with the completed form and the Arizona Commerce Authority Post-Approval. Include a copy of each completed Form 334-S with the S corporation return and keep a copy for your records.
Shareholders: Use Form 334-S to complete your own Form 334. Include the completed Form 334-S and a copy of the Post-Approval with your return. Keep copies of both.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Claiming the credit in the wrong year: If you file on a calendar-year basis and the S corporation files on a fiscal-year basis, claim the credit for the year in which the corporation’s fiscal year ends.
- Missing required attachments: Shareholders must include the completed Form 334-S and the Post-Approval with their return. S corporations must include each completed Form 334-S with their return.
- Forgetting the expense add-back: Shareholders must add the amount on line 4b back when calculating Arizona taxable income.
- Missing the recapture entry: Shareholders must enter the amount from Form 334-S, line 5d, on line 11 of their own Form 334.
- Not keeping copies: Keep the completed Form 334-S for your records. Shareholders must also keep the Post-Approval.
Questions people ask
How is my share of the credit calculated?
The S corporation multiplies its credit amount on line 3a by your ownership percentage on line 3b. The result on line 3c is your share of the credit.
Where do I enter my share of the credit?
Enter the amount from Form 334-S, line 3c, on Part 1, line 5 of your own Form 334.
What do I do with my share of production expenses?
Line 4b shows your share of the approved motion picture production expenses. Add this amount back when calculating your Arizona taxable income.
What does the recapture amount mean?
Line 5d is your share of a credit determined to be incorrect. Enter that amount on line 11 of your own Form 334.
Which year do I claim the credit if the S corporation uses a fiscal year?
If you file on a calendar-year basis, claim the credit on your return for the year in which the S corporation’s fiscal year ends.