38 Studios may miss out on tax credits

The studio behind Kingdoms of Amalur may miss out on millions of dollars in state tax credits because it wasn't incorporated in Rhode Island. Rhode Island's tax credit law explicitly states that productions are only eligible to receive tax credits if the business is "formed under the laws of the state of Rhode Island". While 38 Studios registered as a business in Rhode Island in September 2010, it was organized under Delaware law and its Rhode Island registration was as an out-of-state LLC.

The studio behind Kingdoms of Amalur: Reckoning may miss out on millions of dollars in state tax credits because it wasn't incorporated in Rhode Island.

Rhode Island's tax credit law explicitly states that productions are only eligible to receive tax credits if the business is "formed under the laws of the state of Rhode Island". While 38 Studios registered as a business in Rhode Island in September 2010, it was organized under Delaware law and its Rhode Island registration was as an out-of-state LLC.

A spokesperson for Rhode Island governor Lincoln Chafee said that the state is aware that 38 Studios' corporate residency is in question and "those questions will be and are being asked".

This story is still unfolding and we will update when more information becomes available. To follow Polygon's coverage of 38 Studios, visit our stream.

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