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Message
re: Louisiana Film Tax Credit: Good or Bad?
Posted on 1/22/14 at 2:41 pm to LSURussian
Posted on 1/22/14 at 2:41 pm to LSURussian
quote:
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.
You are looking at things through business colored glasses.
Legislators still give Tulane tax breaks in exchange for freebies.
Once you legalize a tax break you play hell removing it. I bet somewhere you'll discover we are still subsidizing horses and buggies.
0
Posted on 1/22/14 at 2:44 pm to Fishwater
Is someone besides I B Freeman allowed to start this thread?
Posted on 1/22/14 at 2:46 pm to Fishwater
Paging IP Freely.
Posted on 1/22/14 at 2:50 pm to Godfather1
quote:Didn't I.P. Freely write the novel, The Yellow River?
Paging IP Freely.
Posted on 1/22/14 at 3:05 pm to LSURussian
Turrible
Posted on 1/22/14 at 3:06 pm to Broke
Sorry. I'll try to do better....
Posted on 1/22/14 at 3:06 pm to Fishwater
Posted on 1/22/14 at 3:11 pm to Fishwater
Government intervention and subsidies are always for the greater good.
Posted on 1/22/14 at 3:16 pm to TrueTiger
quote:
I'm glad when anyone gets to keep more of their money.
It's not just a tax break. The tax credits literally transfer wealth from some people and gives it to others.
The state tells you that you owe taxes and they will give you a tax break if you pay certain private parties instead.
It's quite genius of Hollywood to get this arrangement set up, though.
This post was edited on 1/22/14 at 3:17 pm
Posted on 1/22/14 at 3:18 pm to LSURussian
quote:
Didn't I.P. Freely write the novel, The Yellow River?
I don't know. But I.P. Nightly wrote that great classic "The Rusty Bedsprings". It ranks highly among such great works of literature as "Under the Bleachers" by Seymour Butts.
Posted on 1/22/14 at 3:19 pm to Fishwater
If all you are looking at is the credits they receive it is bad, and they may be. What kind of money is being pumped back into the economy by them filming there?
Posted on 1/22/14 at 7:34 pm to Fishwater
Good concept, bad execution.
Posted on 1/22/14 at 9:06 pm to doubleb
quote:It would crumble with the quickness.
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.
Posted on 1/22/14 at 10:29 pm to La Place Mike
One post so you guys will not be disappointed--
The Film "Tax Credits" have nothing to do with a film makers tax bill and everything to do with subsidizing his cost. It is very close to just giving a film cash for 30+% of his expenses.
Louisiana has issued over $1 billion worth of these "credits" over the last 10 years.
The credits this past year likely exceeded all the Louisiana corporate income tax collected from all the corporations paying tax in the state.
The credits exceeded the total of all cuts to higher education last year.
No need to post anything else.
Que the people who can not add or substract or even call LED to ask about the program AND the lone idiot or two that will swear there is no way Louisiana is issuing cash redeemable credits based on salaries paid to actors to the tune of millions of dollars.
The Film "Tax Credits" have nothing to do with a film makers tax bill and everything to do with subsidizing his cost. It is very close to just giving a film cash for 30+% of his expenses.
Louisiana has issued over $1 billion worth of these "credits" over the last 10 years.
The credits this past year likely exceeded all the Louisiana corporate income tax collected from all the corporations paying tax in the state.
The credits exceeded the total of all cuts to higher education last year.
No need to post anything else.
Que the people who can not add or substract or even call LED to ask about the program AND the lone idiot or two that will swear there is no way Louisiana is issuing cash redeemable credits based on salaries paid to actors to the tune of millions of dollars.
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