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Started By
Message
La Tax credit program scores another major victory
Posted on 12/17/14 at 6:03 pm
Posted on 12/17/14 at 6:03 pm
80 jobs in the $80 - $120k range.
This program is responsible for about 2,000 high paying, green jobs for Nola and the surrounding cities.
It works.
This program is responsible for about 2,000 high paying, green jobs for Nola and the surrounding cities.
It works.
Posted on 12/17/14 at 6:10 pm to Meauxjeaux
Definitely a good thing. But Illinois to Naw Ahlins.. They in fo some serious cultcha!!!
Posted on 12/17/14 at 6:11 pm to LSUTigersVCURams
dey gonna get all the cultcha dey can take and den some baybeh ja herd meh!?
Posted on 12/17/14 at 6:15 pm to LSUTigersVCURams
quote:
cultcha!!!
One of the reasons they picked the city.
Posted on 12/17/14 at 6:42 pm to Meauxjeaux
(no message)
This post was edited on 12/17/14 at 6:44 pm
Posted on 12/17/14 at 7:05 pm to Meauxjeaux
IB Freeman to explain why this sucks in.....5....4.....3.....
Posted on 12/17/14 at 7:39 pm to LSURussian
Well intelligent readers know why this sucks--
FOREVER and EVER.
You guys realize this guy could pay himself a $10 million salary and get $3 million from taxpayers don't you?? Simply moving money from one hand to another and pocket welfare from you and me.
quote:
High Voltage Software will be taking advantage of several incentives, including a digital media incentive, a $150,000 performance-based grant to reimburse relocation costs, and workforce training programs.
The digital media incentive offers a 35 percent tax credit on payroll for Louisiana-based employees as well as a 25 percent credit for production expenses made in the state.
FOREVER and EVER.
You guys realize this guy could pay himself a $10 million salary and get $3 million from taxpayers don't you?? Simply moving money from one hand to another and pocket welfare from you and me.
This post was edited on 12/17/14 at 7:40 pm
Posted on 12/17/14 at 7:56 pm to LSURussian
You of all people calling out a poster for being an obsessive thread-starter and responder on a subject?
St. George
St. George
Posted on 12/17/14 at 8:15 pm to I B Freeman
quote:
You guys realize this guy could pay himself a $10 million salary and get $3 million from taxpayers don't you??
Spoken like a true shallow thinker.
Posted on 12/17/14 at 8:33 pm to Meauxjeaux
quote:
Spoken like a true shallow thinker.
Explain that.
While you are at it make the case we should pay between 25-30% forever.
Posted on 12/17/14 at 8:45 pm to I B Freeman
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.
That is a good deal in his eyes.
This post was edited on 12/17/14 at 8:54 pm
Posted on 12/18/14 at 12:05 am to I B Freeman
Sorry. Out-of-state here. So these tax credits are refundable? They can't just reduce a company's state tax liability to $0? So, if my company owe $100k in state taxes and my credits are $200k, the state writes a check to me for $100k?
Posted on 12/18/14 at 12:10 am to the808bass
quote:
So, if my company owe $100k in state taxes and my credits are $200k, the state writes a check to me for $100k?
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.
Posted on 12/18/14 at 12:33 am to Asgard Device
Meh on the language. People screw around with language on these issues. I'm concerned with dollars and cents.
It's not a flat 25% tax credit. It's on production expenses (not capital expenses, i.e) in the state of Louisiana and essentially 35% on payroll. And from what I could tell, the tax credit on payroll didn't apply to all staff. I might have misread that.
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.
It's not a flat 25% tax credit. It's on production expenses (not capital expenses, i.e) in the state of Louisiana and essentially 35% on payroll. And from what I could tell, the tax credit on payroll didn't apply to all staff. I might have misread that.
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.
Posted on 12/18/14 at 7:33 am to the808bass
quote:
It's not a flat 25% tax credit. It's on production expenses
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.
quote:
And from what I could tell, the tax credit on payroll didn't apply to all staff
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.
quote:
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.
They are not and any one that can add and subtract can see that.
Posted on 12/18/14 at 8:39 am to I B Freeman
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.
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.
Posted on 12/18/14 at 10:07 am to BigJim
quote:
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.
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.
This post was edited on 12/18/14 at 11:40 am
Posted on 12/18/14 at 11:38 am to I B Freeman
quote:
Of course you do BigJim. You are a big government, big business welfare proponent and always have been.
you and BigJim know each other?
Posted on 12/18/14 at 12:57 pm to Choctaw
quote:
you and BigJim know each other?
In the biblical sense...
j/k We migrated here from another Louisiana politics board.
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