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Louisiana Film Tax Credit: Good or Bad?
Posted on 1/22/14 at 12:28 pm
Posted on 1/22/14 at 12:28 pm
Obviously Louisiana is enticing to the film industry. Is our Tax Credit good or bad for the state?
15
Posted on 1/22/14 at 12:28 pm to Fishwater
frick you
Posted on 1/22/14 at 12:29 pm to Fishwater
:IBFreeman:
Posted on 1/22/14 at 12:30 pm to SpartyGator
quote:
:IBFreeman:
his alarm is going crazy right now
Posted on 1/22/14 at 12:35 pm to Fishwater
Bad but I will defer to IBfreeman to explain why.
Posted on 1/22/14 at 12:39 pm to Fishwater
Posted on 1/22/14 at 12:45 pm to Fishwater
This has never been discussed here. Not even 25 times. 
Posted on 1/22/14 at 12:47 pm to Fishwater
I don't live in Louisiana, but it seems awfully silly to me to throw tens of millions of taxpayers' money at temporary jobs for a small segment of the state's population. I hope we don't do that shite in Alabama.
Posted on 1/22/14 at 12:55 pm to Fishwater
Inb4IBFreeman
Posted on 1/22/14 at 12:57 pm to Zed
quote:
I don't live in Louisiana
And you also don't understand very well how this program works.
I think the latest calculations show upwards of $750 million spend by the film industry in the state last year.Probably will be more this year.
That is a shite load of hotels, apartments, restaurants, caterors, and crew that are getting good money out of this investment by the state.
It isn't perfect, but as far as gov. spending, this one is a win win to me.
IB will be along shortly to tell us all the real truth though and will argue into the wee hours of the morning if you don't believe him.
Posted on 1/22/14 at 12:59 pm to Fishwater
I'm glad when anyone gets to keep more of their money.
But I don't like government picking winners and losers.
We should all get a tax break.
But I don't like government picking winners and losers.
We should all get a tax break.
Posted on 1/22/14 at 1:01 pm to Fishwater
I watched two movies this week, The Butler on demand and Gravity at t the theater and both credited a Louisiana production company.
This post was edited on 1/22/14 at 1:01 pm
Posted on 1/22/14 at 1:01 pm to notiger1997
quote:Is it a legitimate use of taxpayers' money to subsidize jobs for those people?
That is a shite load of hotels, apartments, restaurants, caterors, and crew that are getting good money out of this investment by the state.
Posted on 1/22/14 at 1:08 pm to Zed
quote:The only way to know that is to determine if the state gets a return on the tax credits that its citizens would not have received otherwise, either through taxes collected, permanent jobs created, quality of life, positive publicity that creates other non-related jobs....that sort of thing.
Is it a legitimate use of taxpayers' money to subsidize jobs for those people?
I don't know the answer to that.
Posted on 1/22/14 at 1:11 pm to LSURussian
quote:I don't know either. Seems like a lot of money to throw around without knowing though. I'd be uncomfortable with it.
I don't know the answer to that.
Posted on 1/22/14 at 1:37 pm to Zed
quote:True.
Seems like a lot of money to throw around without knowing though.
It's a "chicken or the egg" type of deal. You don't know what will be generated from the credits until you throw money at it and you don't really want to throw money at it until you know what it will generate.
The legislative act that set up the credits was always intended to be temporary. It even says that in the Act. The hope was the credits would encourage the creation of a permanent film industry infrastructure in Louisiana to compete with other venues for TV and movie productions and when that happened, the credits would either taper off or end completely.
Legislators can stop or amend the credits anytime they want to do so, with some grandfathering in place for productions already under way.
Posted on 1/22/14 at 1:54 pm to LSURussian
quote:
Legislators can stop or amend the credits anytime they want to do so, with some grandfathering in place for productions already under way.
If they tried to do that we'd see a litany of people whining before some legislative committee about how the entire industry would crumble without the tax breaks.
There is no doubt tax breaks create economic activity, but like the poster above indicated; picking winners and losers should not be the business of government.
If tax breaks bring economic activity tot he state then why not cut taxes across the board? Why just cut taxes for a targeted group?
I know, we beat this dog to death, and it isn't going to change anything. The tax break for the film industry will be here forever.
Posted on 1/22/14 at 1:59 pm to LSURussian
quote:If the state can get back whatever they're paying out in credits, and create jobs, that's clearly a good thing, it they're able to do that. The credits will be hard to end though. I'll let you guys worry about it.
The legislative act that set up the credits was always intended to be temporary. It even says that in the Act. The hope was the credits would encourage the creation of a permanent film industry infrastructure in Louisiana to compete with other venues for TV and movie productions and when that happened, the credits would either taper off or end completely.
Posted on 1/22/14 at 2:03 pm to doubleb
quote:I don't think so. At least not to the extent we've seen it since its inception.
The tax break for the film industry will be here forever.
Too many states have jumped on the bandwagon of giving tax credits for media productions and it's getting to a definite point of diminishing returns, IMO.
Posted on 1/22/14 at 2:38 pm to notiger1997
quote:
I think the latest calculations show upwards of $750 million spend by the film industry in the state last year.Probably will be more this year.
That is a shite load of hotels, apartments, restaurants, caterors, and crew that are getting good money out of this investment by the state.
there's a famous PT Barnum quote I'm think of now...can you guess what it is?
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