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Started By
Message
Alaska is taking Film Tax Credits to the next level. Will pay up to 58%.
Posted on 12/27/14 at 10:49 pm
Posted on 12/27/14 at 10:49 pm
quote:
What projects are eligible?
Eligible projects are broadly defined as film, documentary, commercial, and video productions. A minimum of $75,000 of qualified expenditures in Alaska is required. Unlike some incentives, Alaska does not have a salary or project cap. Your company is not required to be domiciled in Alaska,] nor is there a minimum requirement for principle photography days or for local hire.
Base (minimum) credit on expenditures: 30%.
Credit on Alaska resident wages: 50% !
Non-resident wages: 30%
Rural location?: add 6%
Winter time? add another 2%
This means Alaska provides a transferable tax credit for 30% to 58% of expenses. Incredible.
Keep in mind that Alaska has no personal income tax or sales tax and if the company is not domiciled in Alaska then they also do not owe any corporate income taxes.
LINK /
7
Posted on 12/27/14 at 11:05 pm to Asgard Device
They make a lot of shitty Alaskan reality shows.
Posted on 12/27/14 at 11:06 pm to Asgard Device
Palinland STRONG, Jindalcountry crying
Posted on 12/27/14 at 11:07 pm to Asgard Device
I want to make a new reality show
"frozen balls, warm tummies "
"frozen balls, warm tummies "
Posted on 12/27/14 at 11:08 pm to Asgard Device
Good chance this the axe. It was just renewed until 2018 but after oil prices dropped, I don't see this credit making it
Posted on 12/27/14 at 11:17 pm to Jim Rockford
quote:
They make a lot of shitty Alaskan reality shows.
With subsidies like that, they'd be stupid not to make those shows. That's easy money for some of the lesser watched cable channels.
Posted on 12/28/14 at 12:24 am to Asgard Device
(no message)
This post was edited on 1/14/16 at 7:57 pm
Posted on 12/28/14 at 3:14 pm to Negative Nomad
With subsidies like that you're going to see a lot of shitty Alaska shows, so long as there's enough corporate income taxes collected from other companies to pay for it.
This post was edited on 12/28/14 at 3:45 pm
Posted on 12/28/14 at 3:43 pm to Asgard Device
Wouldn't it be great if all those productions that insist on welfare from Louisiana to film here would take their films to Alaska??
Good riddance to those that threaten to leave if we don't subsidize them.
I wonder if Dardenne is going to run on matching Alaska??
Good riddance to those that threaten to leave if we don't subsidize them.
I wonder if Dardenne is going to run on matching Alaska??
This post was edited on 12/28/14 at 3:45 pm
Posted on 12/29/14 at 10:11 am to I B Freeman
Hopefully Louisiana will up the anti and give more subsidies. I want to see just how big the 2015 budget shortfall can get.
Posted on 12/29/14 at 10:32 am to Asgard Device
quote:
Keep in mind that Alaska has no personal income tax or sales tax and if the company is not domiciled in Alaska then they also do not owe any corporate income taxes
and they actually pay residents to live there instead of charging them like most other states. The big question is why do you care how the spend their budget surplus?
Posted on 12/29/14 at 10:57 am to I B Freeman
quote:
I wonder if Dardenne is going to run on matching Alaska??
Jay Dardenne's son, who apparently is in the film business in California, posted the recent NOLA article about Louisiana being the top film state on his Facebook page and bragged that his dad was the one who orchestrated the film tax subsidy program.
Posted on 12/29/14 at 2:45 pm to ragincajun03
I hope every film maker that demands Louisiana subsidies moves to Alaska and takes all 10 of their full time Louisiana resident employees.
Posted on 12/29/14 at 3:10 pm to Asgard Device
Question, what kind of tax credits does Alaska issue if they have no income tax or even a sales tax?
Posted on 12/29/14 at 3:29 pm to doubleb
Most State revenue comes from oil and natural gas. The State capital budget just got cut in half (roughly) because of decreased revenue from lower prices on oil.
Posted on 12/29/14 at 4:08 pm to doubleb
quote:
Posted by doubleb
Question, what kind of tax credits does Alaska issue if they have no income tax or even a sales tax?
Answer: you don't have to owe taxes in order to cash in transferable tax credits. Most are fly-by-night out-of-state shell companies who barely incur any tax liabilities in the state.
Alaska levies a corporate tax that goes up to 9.4%. So, other companies who owe the tax will be compelled to buy these credits from Hollywood at a discount. Basically, the state penalizes you monetarily if you don't buy credits from these companies.
This post was edited on 12/29/14 at 4:15 pm
Posted on 12/29/14 at 4:12 pm to Asgard Device
quote:
Posted by doubleb
Question, what kind of tax credits does Alaska issue if they have no income tax or even a sales tax?
Answer: you don't have to owe taxes in order to cash in transferable tax credits. Alaska levies a corporate tax that goes up to 9.4%. So, other companies who owe the tax will be compelled to buy these credits from Hollywood at a discount.
watch out Asgard somebody might confuse a transferrable "tax credit" as a subsidy---or even worse special interest welfare!!! Which is exactly what it is.
Posted on 12/29/14 at 4:16 pm to Asgard Device
So like La., Alaska is going to buy tax credits for a percentage even though there are no taxes to pay rather than call them a subsidy, right?
Posted on 12/29/14 at 4:42 pm to doubleb
quote:
Posted by doubleb
So like La., Alaska is going to buy tax credits for a percentage even though there are no taxes to pay rather than call them a subsidy, right?
I don't think the state actually buys them back in Alaska. It's easier to just transfer the credit. Same effect.
Posted on 12/29/14 at 8:27 pm to Asgard Device
I'm confused . If Alaska doesn't buy them back, why are they valuable if there are no taxes yo offset?
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