Louisiana Film Tax Credit: Good or Bad? | TigerDroppings.com

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Fishwater
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Carcosa
Member since Aug 2010
4737 posts

Louisiana Film Tax Credit: Good or Bad?



Obviously Louisiana is enticing to the film industry. Is our Tax Credit good or bad for the state?






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TN Bhoy
USA Fan
Sketty, Wales
Member since Apr 2010
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re: Louisiana Film Tax Credit: Good or Bad?


frick you





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SpartyGator
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Member since Oct 2011
32447 posts

re: Louisiana Film Tax Credit: Good or Bad?


:IBFreeman:





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Choctaw
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Pumpin' Sunshine
Member since Jul 2007
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re: Louisiana Film Tax Credit: Good or Bad?


quote:

:IBFreeman:


his alarm is going crazy right now






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Radiojones
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Member since Feb 2007
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re: Louisiana Film Tax Credit: Good or Bad?


Bad but I will defer to IBfreeman to explain why.





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LSURussian
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Member since Feb 2005
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re: Louisiana Film Tax Credit: Good or Bad?








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notiger1997
Member since May 2009
23209 posts

re: Louisiana Film Tax Credit: Good or Bad?


This has never been discussed here. Not even 25 times.





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Zed
Alabama Fan
Member since Feb 2010
7988 posts

re: Louisiana Film Tax Credit: Good or Bad?


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.





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deltaland
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Member since Mar 2011
23657 posts

re: Louisiana Film Tax Credit: Good or Bad?


Inb4IBFreeman





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notiger1997
Member since May 2009
23209 posts

re: Louisiana Film Tax Credit: Good or Bad?


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.






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TrueTiger
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Member since Sep 2004
10387 posts

re: Louisiana Film Tax Credit: Good or Bad?


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.






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Vegas Bengal
Member since Feb 2008
25284 posts

re: Louisiana Film Tax Credit: Good or Bad?


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 at 1:01 pm


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Zed
Alabama Fan
Member since Feb 2010
7988 posts

re: Louisiana Film Tax Credit: Good or Bad?


quote:

That is a shite load of hotels, apartments, restaurants, caterors, and crew that are getting good money out of this investment by the state.
Is it a legitimate use of taxpayers' money to subsidize jobs for those people?






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LSURussian
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Baton Rouge
Member since Feb 2005
81789 posts
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re: Louisiana Film Tax Credit: Good or Bad?


quote:

Is it a legitimate use of taxpayers' money to subsidize jobs for those people?

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.

I don't know the answer to that.






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Zed
Alabama Fan
Member since Feb 2010
7988 posts

re: Louisiana Film Tax Credit: Good or Bad?


quote:

I don't know the answer to that.

I don't know either. Seems like a lot of money to throw around without knowing though. I'd be uncomfortable with it.






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LSURussian
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Baton Rouge
Member since Feb 2005
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re: Louisiana Film Tax Credit: Good or Bad?


quote:

Seems like a lot of money to throw around without knowing though.
True.

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.






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doubleb
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Baton Rouge
Member since Aug 2006
6462 posts
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re: Louisiana Film Tax Credit: Good or Bad?


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.







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Zed
Alabama Fan
Member since Feb 2010
7988 posts

re: Louisiana Film Tax Credit: Good or Bad?


quote:

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.
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.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81789 posts
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re: Louisiana Film Tax Credit: Good or Bad?


quote:

The tax break for the film industry will be here forever.

I don't think so. At least not to the extent we've seen it since its inception.

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.






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Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
1042 posts

re: Louisiana Film Tax Credit: Good or Bad?


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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