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re: Louisiana Film Tax Credit: Good or Bad?
Posted on 1/22/14 at 1:37 pm to Zed
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.
2
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.
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