Gov. Jindal announces plan to scale back the motion picture tax credit program.
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re: Gov. Jindal announces plan to scale back the motion picture tax credit program.
Posted by shutterspeed on 3/17 at 3:02 pm to I B Freeman
quote:

Shutterspeed what do you think that means?



I haven't followed the money trail. The only things I can tell you are that production money has to be spent and audited in MS before any tax rebates can be realized. And the biggest rebates apply to in-state wages and out-of-state wages that are subject to state taxation.



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Posted by los angeles tiger on 3/17 at 3:13 pm to I B Freeman
quote:

Do you think it means $13 million was spent in the city? is so how much of that was profit that people actually kept? how much was salaries for out of state people? how much of it continued the month after "The Help" quit filming?


This is the issue with entertainment tax breaks which include things like pro-football and baseball. They are for short-term benefits and positions unlike industries like oil that have a permanent benefit and long-term positions.



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Posted by I B Freeman on 3/17 at 3:17 pm to shutterspeed
quote:

Shutterspeed what do you think that means?


I haven't followed the money trail. The only things I can tell you are that production money has to be spent and audited in MS before any tax rebates can be realized. And the biggest rebates apply to in-state wages and out-of-state wages that are subject to state taxation.


Then you should study it more. Right now you are one of the gullible.

I bet you this--any amount you want to bet--that he people in Greenwood that they claim got that $13 million would not agree to pay 30% of that to the film makers to get them to film again.

(remember buying a $5 hamburger counted and the guy that sold it might have made .50 on that $5 so it is BS to think the people of Greenwood are $13 million rich after the movie filmed there).

I am very familiar with a couple of film shoots in a couple of small Louisiana towns and in both instances the sales tax collections during the filming WENT DOWN. You never see the film industry's propaganda considering the cost of their disruption of regular business.

No possible way the film tax credits are good for Louisiana. NONE.

It is very misleading the statement in your link that says the film industry in Louisiana employs 10,000 people here too. That is utter BS. There may have been 10000 people throughout a year that got some wages from some film or some contractor to a film but most had very short employment resulting from any one film.

I suspect that like in all economic development they have taken a lot of liberties in counting those jobs. I once looked at a LSU economic professor's logic in predicting the number of jobs a coming business would generate. He "guessed" existing freight companies would add 5 full time drivers because of the plant's operation. I asked him if he knew how many pounds of freight the company would ship and he didn't know. He said it was his best "estimate". Of course the proponents of giving the money to the plant counted those 5 drivers in the publicity saying how many jobs they would produce.

Film tax credits should end today.

I am very interested to see how it is Jindal intends to keep these tax credits yet he will end corporate taxes. He is just going to call them what they are with no corporate income taxes and that is handouts??



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Posted by shutterspeed on 3/17 at 3:36 pm to I B Freeman
quote:

Then you should study it more. Right now you are one of the gullible.

I bet you this--any amount you want to bet--that he people in Greenwood that they claim got that $13 million would not agree to pay 30% of that to the film makers to get them to film again.


You may be right. And I'm keeping my mind open about it. But the few hunches you've presented here aren't going to make me any less "gullible."

quote:

It is very misleading the statement in your link that says the film industry in Louisiana employs 10,000 people here too. That is utter BS. There may have been 10000 people throughout a year that got some wages from some film or some contractor to a film but most had very short employment resulting from any one film.


Wasn't my link.



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Posted by los angeles tiger on 3/17 at 3:38 pm to I B Freeman
quote:

I am very familiar with a couple of film shoots in a couple of small Louisiana towns and in both instances the sales tax collections during the filming WENT DOWN. You never see the film industry's propaganda considering the cost of their disruption of regular business.




The industry is filled with millionaires that produce all these films, television shows and music that never makes a profit. It's amazing how creative they are with their bull shite.



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Posted by los angeles tiger on 3/17 at 3:43 pm to I B Freeman
The part of the industry that does create more stable, long-term benefits is television, not film.


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Posted by I B Freeman on 3/17 at 3:45 pm to shutterspeed
quote:

You may be right. And I'm keeping my mind open about it. But the few hunches you've presented here aren't going to make me any less "gullible."


It is simple math. No hunches involved in that we GAVE these people over $200 million last year alone. Cash money profits.



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Posted by shutterspeed on 3/17 at 3:48 pm to I B Freeman
If you review my responses, I've supported reforming film incentives. The question for me isn't how much money was "given" to anyone but how much these incentives benefit the economy. How one answers this question reflects one's belief in business tax incentives in general.


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Posted by los angeles tiger on 3/17 at 3:52 pm to I B Freeman
quote:

It is simple math. No hunches involved in that we GAVE these people over $200 million last year alone. Cash money profits.



Isn't that the amount of cuts to academia that is being cried over in another thread?



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Posted by CollegeFBRules on 3/17 at 4:00 pm to cosmicdingo
quote:

By all means, let's kill the one emerging industry the state has.Dumbasses.


Only emerging because Louisiana's citizens foot the bill. The entire infrastructure is built in California, and look at how quickly they abandon that state when taxes aren't how they want them.



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Posted by los angeles tiger on 3/17 at 4:15 pm to CollegeFBRules
quote:

Only emerging because Louisiana's citizens foot the bill. The entire infrastructure is built in California, and look at how quickly they abandon that state when taxes aren't how they want them.



You mean the very programs as well as tax increases that the people in that industry vote for yet don't want to pay for? Like Bill Maher complaining about what he voted for?



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Posted by I B Freeman on 3/17 at 4:22 pm to los angeles tiger
quote:

quote:
Only emerging because Louisiana's citizens foot the bill. The entire infrastructure is built in California, and look at how quickly they abandon that state when taxes aren't how they want them.


You mean the very programs as well as tax increases that the people in that industry vote for yet don't want to pay for? Like Bill Maher complaining about what he voted for?


Exactly!

You know what these guys do that really gets me. Through a myriad of subsidiaries and often short lived LLCs they incur their production expense where they get the most welfare and then recognize their profits where their taxes are lowest.

One change to the law would call their bluff--make the tax credits only valid against taxes they owe the state. End the transferability of the credits and the state cash redemption of them. At least if we did that they would have to recognize enough of their income here to fund the tax credit saving us millions.

Of course I would rather just end them all together.



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Posted by los angeles tiger on 3/17 at 4:38 pm to I B Freeman
IB, I always laugh at the music industry being so upset with "pirating" when they are such crooks themselves and how they rip off smaller unknown musicians.


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