I've had a few emails from people wanting to know what does and doesn't count. SO for those of you who don't already know...

FONT, MARGINS, AND SPACING

Screenplays live on letter-sized paper (8.5 x 11 inches). They're always written in Courier font, 12 point, 10 pitch. No bold, no italics.

Page Margins:
Left: 1.5 inches
Right: 1 inch
Top: 1 inch
Bottom: 1 inch

Screenplay Element Margins

Slugline: left margin 1.5 inches

Action: left margin 1.5 inches
Character name: left margin 3.7 inches
Dialog: left margin 2.5 inches, right margin 2.5 inches (or 6 inches from left edge of page)
Parentheticals: left margin 3.1 inches, right margin 2.9 inches
Spacing Between Elements:

Between Slugline and Action: double space

Between Action and more Action: double space
Between Action and Character Name: double space
Between Character Name and Dialogue: single space
Between Dialogue and the next Character Name: double space
Between Dialogue and Action: double space
Between Character Name and Parentheticals: single space
Between Parentheticals and Dialogue: single space
Between Action and Slugline: double space
Between Dialogue and Slugline: double space
You know, it's probably a lot easier to remember that in a single character's speech, made up of Character Name, Dialogue, and possibly a Parenthetical, there are single spaces between the elements. Between everything else, double space.

AND this is a really excellent script written by TSEdiot last year to guide anyone through the formatting. I gave this out as a handout to my Derby based writers. http://www.scriptfrenzy.org/files/scriptfrenzy-main/format_sheetv2.pdf