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Our Firm
BANKABLE CONSULTING, INC. is a boutique tax and legal consulting firm that understands the uniqueness of its clients and client base. We specialize in the creative industries- film, television, music and digital media- and tailor our approach to meet the client’s specific needs. Whether you’re a corporation, limited liability company or an individual, our focus is on customizing each project and delivering an end-result that is reflective of your industry and differentiating circumstances.
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Chiquita Woolfolk Banks, Esq.
As Principal/Owner of BANKABLE CONSULTING, INC., Chiquita supports content creators, with a focus on filmmakers of color, and advises on options to finance the creator’s projects. Specifically, she consults on project’s global incentive alternatives and is “the plug” connecting filmmakers to companies that lend against production incentives, distribution agreements and other production collateral.
Prior to starting Bankable and after a short stint in private capital, Ms. Banks served as Sr. Advisor, Production & Investment Planning at The Walt Disney Company. At Disney, she specialized in helping the Company’s brands realize a reduction in the cost of production through the use of global film and television tax incentives. Her practice also included government relations where Chiquita interacted with international, federal, state and local legislators, film commissioners and other industry influencers for the purpose of maintaining and increasing production incentives in relevant jurisdictions.
Before Disney, Chiquita served as Director, Tax Counsel at Viacom in New York, NY and SALT Senior Manager at Bennett Thrasher in Atlanta, GA.
In her prior consulting practice, Chiquita used her considerable years of tax consulting and business development experience to assist the big six Hollywood studios and large independent studios (e.g., AMC Networks) utilize and monetize film incentives across the country. Then, her practice focused on auditing qualified production expenditures, preparing certification applications, performing pre-production budget and sourcing analyses, and handling a wide variety of tax controversy matters.
Chiquita currently serves as the President of the Board of the Black Entertainment and Sports Lawyers Association (BESLA). She is also an active contributor to Women in Film and Television, the Council on State Taxation, and a proud member of Alpha Kappa Alpha Sorority, Inc. Finally, Chiquita is a frequent panelist at film festivals, a speaker at industry functions and a guest lecturer at colleges/universities. She enjoys connecting with people and explaining the benefits of tax incentives to indie film producers.
Kip Clemons
Kip Clemons is a Production Accountant at BANKABLE CONSULTING, INC. As a seasoned Production Accountant, she is a pivotal figure in the financial landscape of the film and television industry, leveraging her extensive expertise in tax advisory and financial analysis. Rooted in accounting and starting her academic journey at the University of Michigan, Kip later graduated from Western Governors University (WGU). Having contributed her skills to all major networks in Hollywood, Kip's commitment to delivering exceptional financial solutions, meticulous attention to detail, and genuine passion for optimizing client outcomes makes her an invaluable asset in the realm of tax advisory and financial management. Her experience spans from studio-to-independent projects and has solidified her position as a trusted professional poised to make a lasting impact.
Services
As strategists, Team BANKABLE educates its clients and supports each client’s growth/development. At the end of the day, we want to see you win! Whether concierge or a la carte services, BANKABLE delivers a distinctive approach to global incentives management, film/television financing solutions and traditional tax-saving strategies for our corporate and individual clients. Let us help you maximize your opportunities while minimizing your risk!
The below represents a non-exhaustive list of services that BANKABLE is equipped to handle:
Tax Consulting Services
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Estimate the value of tax credits/non-tax incentives in various jurisdictions
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Compare/contrast global incentive programs to help producers determine the most advantageous locale for filming and post-production
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Serve as audit defense/initial point of contact for state/local government auditor during an incentive audit
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Prepare certification applications, post-wrap reporting documents and other required documentation to ensure the production’s eligibility for the incentive
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Analyze production monies spent and anticipated-to-be-spent to determine the project’s current and forecasted incentives
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Liaise with the post-production accountant and/or tax preparer on the production’s behalf re: final documents needed for tax return reporting
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Refer producers and production companies to experienced tax credit brokers to monetize transferable incentives
Legal Consulting Services
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Draft transfer agreements and related documentation to assign transferable tax credits from seller/production company to buyer
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Work with Production Finance and other internal stakeholders to develop and/or update internal policies/procedures re: the use of film tax credits and incentives
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Draft talent agreements for compliance with specific incentive jurisdictional requirements
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Provide statutory, regulatory and administrative guidance on the changes to global production incentive programs
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Communicate with film commission and other local stakeholders re: the value and benefit of the production in the relevant jurisdiction
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Assist local governments and film commissions in drafting legislation and other publicly available documentation to explain their incentive programs
Media
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Chiquita W. Banks, Esq., Bringing Diverse Film and Television Productions to New York, Mar. 16, 2023 at https://amsterdamnews.com/news/2023/03/16/bringing-diverse-film-and-television-productions-to-new-york/.
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Bankable Consulting, Inc. served as a sponsor for the CHOOSE GEORGIA panel and reception at the Sundance Film Festival (Feb. 2023).
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Chiquita W. Banks, Esq., Panelist, Tax & Film Finance, panel presented by the Sundance Catalyst Program via the Sundance Institute (Jul. 2023).
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Chiquita W. Banks, Esq., Panelist, The Nuts & Bolts of Film Finance, sponsored by the Motion Picture Association and presented at the American Black Film Festival (June 2022).
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Chiquita W. Banks, Esq., Panelist, The Business Case for Black Stories in Media & Entertainment: Exploring Dealmaking & Tax Incentives, sponsored by Sheppard Mullin and presented virtually (February 2022).
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Chiquita W. Banks, Esq., Panelist representing The Walt Disney Co., Indie Film Finance panel at the annual Motion Picture Association & New York State Empire State Development Multicultural Summit (Nov. 2018; Nov. 2019; Nov. 2020; and Nov. 2021).
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Chiquita W. Banks, Esq., Selection Committee Member Motion Picture Association/EICOP Entertainment Law & Policy Fellowship (2021, 2022 and 2023).
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In 2015, Chiquita W. Banks, Esq. selected by Georgia Daily Report as a 40 Under 40 On the Rise for Georgia’s Legal Community. The announcement is available at: https://www.law.com/dailyreportonline/almID/1202731508812/?slreturn=20180023143253.
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Atlanta Business Chronicle Personal Profile of Chiquita W. Banks, Esq. in “People on the Move” section, June 12, 2015. Profile entitled, Banks Finds Entertainment in Tax World, available at: http://www.bizjournals.com/atlanta/print-edition/2015/06/12/banks-finds-entertainment-in-tax-world.html.
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Chiquita W. Banks, Esq., Panelist, State Film Tax Credits & Incentives: How to Leverage Them in the TV/Film/Digital Media Industry. Panel presented at the Black Entertainment & Sports Lawyers Association 2015 Mid-Year Conference, Atlanta, Georgia (March 2015).
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Chiquita W. Banks, Esq., Panelist, Multistate Film Tax Credits: How to Use Them to Fund Production. Panel presented at the BronzeLens Film Festival, Atlanta, Georgia (August 2014).
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