Film Tax Credits exceeded total collections of corp income tax in Louisiana - Page 2 - TigerDroppings.com

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junkfunky
LSU Fan
Member since Jan 2011
14147 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

You are the one so sure they are a good thing for all of us instead of for the few tell us why we should like them.


Orly? I can't say for sure if it's for the best but I'm not gonna knee-jerk. FYI I was laughing at your hyperbolic rant when there are a shite ton of other factors you don't want to consider.






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bbrownso
LSU Fan
Member since Mar 2008
2743 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


For those of you who want to read this thread from an earlier date and cut through a good amount of time and pages:
Thread from 9/28

Also, I never got an answer from I B regarding these spreadsheets pics that I posted back then. It seems like about 800 million in LA expenditures was reimbursed with about 207 million in LA tax credits.

quote:

BTW, I found these at another site:(from Appendix C of the LBP report)
http://www.stop-runaway-production.com/wp-content/uploads/2012/08/la-projects-1.jpg
http://www.stop-runaway-production.com/wp-content/uploads/2012/08/la-projects-2.jpg
http://www.stop-runaway-production.com/wp-content/uploads/2012/08/la-projects-3.jpg






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BBONDS25
LSU Fan
Member since Mar 2008
16339 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


I will ask again. From a revenue standpoint. What would the revenue be to the state with the film credits vs without. Hard numbers please.





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flyby
Member since Aug 2011
46 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


With no film credit there would be little to no industry and thus no revenue.
However, I agree with the OP that state government is spending 35% of film costs to attract an industry that results in revenue back to the state of something far less than 35%. So to further expand on your question, I believe that zero revenue is better than negative revenue.






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I B Freeman
Member since Oct 2009
5508 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

quote:
BTW, I found these at another site:(from Appendix C of the LBP report)



Your point here is what??? $800 million in expenditures I am quite sure you recognize are not TAX revenues

quote:

. It seems like about 800 million in LA expenditures was reimbursed with about 207 million in LA tax credits.


My company made over $25 million in expenditures last year with NO welfare.

You probably did not get a response from me because you were proving my point----we are paying these people's cost of doing business. IT IS STUPID. STUPID STUPID STUPID.

IF you truly believe these people are tax generators then why not support the ending of their ability to transfer the credits to other taxpayers??? Why not make them use them against the taxes they generate??? I don't care if you let them use them against their sales taxes, anything is better than what we do today which is to take State money and pay their expenses WITH LITTLE OR NO say in how those expenses are incurred.

Anyone that thinks the state subsidy of some actor's million dollar salary is a good use of state money is just stupid.






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I B Freeman
Member since Oct 2009
5508 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

I will ask again. From a revenue standpoint. What would the revenue be to the state with the film credits vs without. Hard numbers please.


Plus $200 million without the credits.

Now I ask again just where in the tax revenue numbers are the huge tax benefits of this welfare you proponents say exists?

I tell what let's do--let take the money we spend at LSU and give it to film makers and then let LSU collect the resulting benefit of the economic benefit. That is a no lose proposition for taxpayers. We will have reduced our spending $200 million and if there truly is a positive economic benefit LSU will have more money. Why don't some of you welfare proponents get behind that?

We could take all the sales taxes collected from any one selling a film anything and all the state taxes from anyone working for or servicing a film and give them to LSU.

I wonder what the LSU budget would like then? I wonder if any LSU economist would support that?



This post was edited on 2/2 at 10:13 am


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RogerTheShrubber
LSU Fan
Juneau, AK
Member since Jan 2009
91636 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


I know one thing, these credits encourage shitty reality TV. Some of the shows they put out are staged/reality and really are just horrible. We have a similar one here and people are turning the producers down (Old Believers, etc....) in their quest for these crappy shows.





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BBONDS25
LSU Fan
Member since Mar 2008
16339 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


you have posted zero evidence of your claim. Posting revenue numbers and claiming that as proof of your claim is silly. You attribute 100 percent of the states individual and corporate revenue to one indistry? Laughable. Where did you get your economics degree?





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Siderophore
LSU Fan
Member since Nov 2010
3334 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

Plus $200 million without the credits.


You still haven't proven this.

For fricks sake, they are building full blown studios, hiring workers that stay here full time and pay taxes, and buy items in state. None of that would be the case otherwise.

I don't know if the tax credit benefits or hurts.

But you are offering ZERO evidence against it.

And the sad thing is that you actually think you are.

I don't even think you understand the point of the incentive, and how it was designed.

One of the primary points of it wasn't to maximize corporate tax (although it would see a mild benefit from support of living industries), but to minimize unemployment and to offer incentives to hire LA residents.






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Siderophore
LSU Fan
Member since Nov 2010
3334 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


I think "The Mist" is my favorite LA filmed movie.





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I B Freeman
Member since Oct 2009
5508 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

you have posted zero evidence of your claim. Posting revenue numbers and claiming that as proof of your claim is silly. You attribute 100 percent of the states individual and corporate revenue to one indistry? Laughable. Where did you get your economics degree?


Still waiting on any of you proponents to make an intelligent argument for paying 30%+ of a single industry's expenses.

None of you can make a reasonable argument as to why if this is good for the state to give welfare to the film industry why it is not good for all industry.

None of you can explain why giving away to businesses in one industry an amount of money greater than our entire corporate tax collections has not resulted in increased tax collections. How much do we have to give them to see an overall increase in tax collections? This give away, as proven by collections, has done nothing to grow overall state revenue.

Proponents of these film tax credits need to identify what industries have so suffered that they have offset the increased tax revenues you claim this welfare creates.






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BBONDS25
LSU Fan
Member since Mar 2008
16339 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


You are the one claiming it is hurting the state. Post your evidence. You have yet to post any. It is strange to make claims, provide zero evidence, then demand others prove you wrong.





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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120642 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

I assume the tax credits are in part because the film industry getting the credits creates jobs and business for companies in Louisiana.

What happens when income taxes on income earned, sales taxes generated from the jobs created, sales and use taxes on the money spent in production, increased business (rentals, fees to locations, food, purchses, security companies), increases payroll, profits from the business involved with the film industry are considered?

I know several people getting jopbs in the film industry because of the credits, I see them working all over the city, I know people getting big bucks for the use of their property for locations, there may be some tightening up required but there is a significant benefit, even if you have a hard on for Jindal.

This x 1000

It is clearly a huge benefit to the city and state






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
296502 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


i wish there wasn't a buyback option b/c that just reeks of an avenue for abuse (and a way for the state to potentially lose its ass). otherwise, credits can't hurt b/c taxable income otherwise would be around 0





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I B Freeman
Member since Oct 2009
5508 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

It is clearly a huge benefit to the city and state


Complete BS. If that logic works why not give every industry 30% of their expenses??






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I B Freeman
Member since Oct 2009
5508 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

i wish there wasn't a buyback option b/c that just reeks of an avenue for abuse (and a way for the state to potentially lose its ass). otherwise, credits can't hurt b/c taxable income otherwise would be around 0


There should not be a buyback and they should not be transferable. That would make the film companies recognize their income here rather than recognizing it in another entity in another state.






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
296502 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

why not give every industry 30% of their expenses??

well some industries are here regardless and there is no reason to give them an incentive

take oil...it's going to be here regardless, so we don't have to cater to them

the issue is how we market our state to new industries to incentivize them to leave another state where they're established and comfortable






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BBONDS25
LSU Fan
Member since Mar 2008
16339 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


You post any actual evidence yet?





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I B Freeman
Member since Oct 2009
5508 posts

re: Film Tax Credits exceeded total collections of corp income tax in Louisiana


quote:

You post any actual evidence yet?


bunches compared to you






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