Does the state pay film companies to shoot in La
Yes. Cash money. Comes top line off the budget as revenues are reduced. Companies are guaranteed at least 85% cash for their credits and they are based on the expenses--not the income--the companies have. Very few if any recognize any income here to us the tax credits against. That would reduce their cash payments. They get minimum 30% of every dollar they spend on actor salaries (think Lindsay Lohan getting millions from your State), every sandwich they buy, every thing they can image to expense against their Louisiana productions while they move the films to distributor companies they own in states with no income taxes to recognize their revenue.
There is no line item in the budget for it because it is top line. There is no limit to them and now have been over $1 billion since they were put into place.
This post was edited on 4/27 at 9:29 am