La Tax credit program scores another major victory

Definitely a good thing. But Illinois to Naw Ahlins.. They in fo some serious cultcha!!!

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cultcha!!!

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One of the reasons they picked the city.

IB Freeman to explain why this sucks in.....5....4.....3.....

You of all people calling out a poster for being an obsessive thread-starter and responder on a subject?

St. George

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Spoken like a true shallow thinker.

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Explain that.

While you are at it make the case we should pay between 25-30% forever.

Mr. Meaux Jeaux wants Louisiana taxpayers to pay a minimum of $2.4 million a year for the same $8 million a year payroll year after year after year forever and ever. After 20 years we will have paid $48 million dollars for less payroll than a Wal Mart store has.

That is a good deal in his eyes.

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So, if my company owe $100k in state taxes and my credits are $200k, the state writes a check to me for $100k?

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Essentially, yes. It would be more like $80k and the accounting behind it would be a little more convoluted but yes that is how it works. It is a subsidy.

Why on Earth would the company have a tax liability that equals 25% of their EXPENSES? That would have to be one hell of a profit margin.

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It's not a flat 25% tax credit. It's on production expenses

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What expense of a software company is not production expenses?? Expenses accounts, light bills, office supplies and on and on are all day to day expenses of the production of software.

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And from what I could tell, the tax credit on payroll didn't apply to all staff

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Nope it is all and there is no cap and no end. At least a film production ends. This company as long as the law stands will get 30% of the labor paid for by the state.

Yes is cash redeemable and transferrable regardless of their income tax liability. I did not exaggerate when I said the man could have his own company pay him a $10 million salary and get $3 million back from the state.

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It would be good to evaluate these programs to ensure they are actually generating positive cash flow for the state government and actually encouraging long-term economic growth.

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They are not and any one that can add and subtract can see that.

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Take the same position on this, that I did on film credits.

We are losing money on the deal...and I am ok with that until the digital media industry gets a critical mass here in the state. I would be OK with like a 10 year sunset though. If it takes longer than 10 years, it's probably not going to happen.

And while I don't have exact numbers, I strongly believe this is a much better return on investment than the film credits.

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Of course you do BigJim. You are a big government, big business welfare proponent and always have been.

These are ongoing. At least a film finishes. As it stands 100 years from now we will still be paying a huge part of this company's payroll and everyday expenses.

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you and BigJim know each other?

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In the biblical sense...










j/k We migrated here from another Louisiana politics board.