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Message
Louisiana House votes to eliminate film/TV tax incentive
Posted on 11/13/24 at 1:58 pm
Posted on 11/13/24 at 1:58 pm
I didn't see anyone post this. Still needs to get past the senate and governor.
I believe there are several posters here who work in the LA film industry. You must have some opinions about this.
This is a Republican-led effort. Other states are creating tax incentives or increasing their existing caps, e.g., California. Georgia's tax incentive is uncapped. There are plenty of other places to go.
variety.com/2024/film/news/louisiana-tax-credit-sunset-1236207921/
I believe there are several posters here who work in the LA film industry. You must have some opinions about this.
This is a Republican-led effort. Other states are creating tax incentives or increasing their existing caps, e.g., California. Georgia's tax incentive is uncapped. There are plenty of other places to go.
variety.com/2024/film/news/louisiana-tax-credit-sunset-1236207921/
9
Posted on 11/13/24 at 2:03 pm to TouchedTheAxeIn82
quote:Didn't Landry propose this?
Still needs to get past the senate and governor.
Newell had someone on WWL a few weeks ago basically laying out the economic benefit to the state and why this is a mistake.
Posted on 11/13/24 at 2:38 pm to TouchedTheAxeIn82
Good. Creates more work for Georgia crew 
Posted on 11/13/24 at 2:50 pm to TouchedTheAxeIn82
This all seems to significantly dampen the flashy headline:
Sounds like they're trying to eliminate incentives tailored to specific industries and simplify and lower tax rates to make Louisiana more appealing to all industries.
quote:
The bill that passed the Louisiana House on Tuesday will eliminate three personal income tax brackets, and replace them with a flat 3% income tax. In addition to doing away with the film incentive, the bill would also sunset tax credits for digital media production, rehabilitation of historic buildings, and angel investments, among others.
A separate bill would reduce and simplify the corporate income tax.
Lawmakers have said the goal of the tax package is to stimulate economic growth by lowering rates. The state also hopes to become more competitive with other Southern states, including Texas, Tennessee and Florida, which do not charge income tax.
Susan Bourgeois, the secretary of the state’s economic development department, said at a hearing that the state will consider creating more narrow incentives next spring.
Among the ideas is an incentive for businesses that pay considerably above the local median wage. But the incentive would not be reserved for any particular industry, she said.
Sounds like they're trying to eliminate incentives tailored to specific industries and simplify and lower tax rates to make Louisiana more appealing to all industries.
Posted on 11/13/24 at 2:50 pm to PuertoRicanBlaze
"Good" ? really?
this is a Louisiana board with several posters who live and work in the state that will be severely impacted if this passes. And this would crush associated businesses like studios, catering, casting, rental houses and on and on. Plenty of posters know someone who knows someone that will be negatively affected, so show a little tact (even on this often tactless, semi-anonymous platform)
I am hearing that studios are cooling off on Georgia big time. Sure, there will be some work due to the uncapped incentive, but that won't last forever either.
Louisiana has a well balanced, modest incentive that is keeping it afloat, so would be a shame if the first state to do it goes by the wayside.
this is a Louisiana board with several posters who live and work in the state that will be severely impacted if this passes. And this would crush associated businesses like studios, catering, casting, rental houses and on and on. Plenty of posters know someone who knows someone that will be negatively affected, so show a little tact (even on this often tactless, semi-anonymous platform)
I am hearing that studios are cooling off on Georgia big time. Sure, there will be some work due to the uncapped incentive, but that won't last forever either.
Louisiana has a well balanced, modest incentive that is keeping it afloat, so would be a shame if the first state to do it goes by the wayside.
Posted on 11/13/24 at 3:12 pm to TouchedTheAxeIn82
I'm ignorant on the ins/outs and the reasons for this but to me it doesn't make much sense. Are the economical gains/exposure brought in by these film entities not enough to outweigh the perceived losses that the credits cause?
I guess I ignorantly assume that bringing business here is always a good thing.
I guess I ignorantly assume that bringing business here is always a good thing.
Posted on 11/13/24 at 3:17 pm to Brian Wilson
How has any of the money brought in from Hollywood helped this state? We are dead last in every category still 
Just politicians pocketing the money
Just politicians pocketing the money
Posted on 11/13/24 at 3:36 pm to JW
quote:
Louisiana has a well balanced, modest incentive that is keeping it afloat, so would be a shame if the first state to do it goes by the wayside.
I'd love to see the economic impact vs. the incentives. If the economic impact doesn't justify the incentives, then kudos to the governor and legislature for tackling this. I'm sure that will all be considered before voting one way or another.
Posted on 11/13/24 at 3:51 pm to spslayto
quote:I only listened to the WWL interview, but Newell and the interviewee made it clear that the economic impact is much greater than the incentives and this is a short-sighted venture by the state. TIFWIW.
I'd love to see the economic impact vs. the incentives. If the economic impact doesn't justify the incentives
Posted on 11/13/24 at 3:53 pm to spslayto
The current louisiana incentives are modest at best (certainly compared to GA), but had a complete overhaul years ago when things were getting out of control and there was some publicized corruption.
I don't have the numbers in front of me or have studied the latest reports, but i would imagine it's more of a break even proposition for the state. If they didn't kill it when there were big tentpole projects all over the state, then why now really? The largest budgeted project to shoot in La the last few years may have been 40M. The days of GI JOE, OBLIVION, BENJAMIN BUTTON etc are over. The current incentive caps rebates on any actor or producer over 1M salary, so that kills large projects from coming. What I believe you have now, is a small community of filmmakers (20k?) and a reasonable slate of TV shows/films that are shot there. It doesn't appear to be a runaway or damaging situation, but rather it's getting caught up in across the board cuts.
I don't have the numbers in front of me or have studied the latest reports, but i would imagine it's more of a break even proposition for the state. If they didn't kill it when there were big tentpole projects all over the state, then why now really? The largest budgeted project to shoot in La the last few years may have been 40M. The days of GI JOE, OBLIVION, BENJAMIN BUTTON etc are over. The current incentive caps rebates on any actor or producer over 1M salary, so that kills large projects from coming. What I believe you have now, is a small community of filmmakers (20k?) and a reasonable slate of TV shows/films that are shot there. It doesn't appear to be a runaway or damaging situation, but rather it's getting caught up in across the board cuts.
This post was edited on 11/13/24 at 3:56 pm
Posted on 11/13/24 at 4:03 pm to JW
quote:
What I believe you have now, is a small community of filmmakers (20k?) and a reasonable slate of TV shows/films that are shot there. It doesn't appear to be a runaway or damaging situation, but rather it's getting caught up in across the board cuts.
Well hopefully the legislature will have all the numbers before it and will make a reasoned decision.
Posted on 11/13/24 at 4:39 pm to TouchedTheAxeIn82
pretty sure it's already slow AF for projects filming there, guess this is the death nail
Posted on 11/13/24 at 5:08 pm to JW
quote:
I am hearing that studios are cooling off on Georgia big time.
They are. That's why I *jokingly* said good. I work in the industry and the Atlanta market is severely drying up. To add insult to injury, Marvel has moved all their productions to the UK. They're returning to Georgia next month for Thunderbolt reshoots but after that, they'll officially be "wrapped" with Georgia.
Posted on 11/13/24 at 9:38 pm to JW
quote:
with several posters who live and work in the state that will be severely impacted if this passes. And this would crush associated businesses like studios, catering, casting, rental houses and on and on.
Thats whats wrong with La govt funding
Every time someone wants to protect their area of funding, they try to get a constitutional amendment passed so they are exempt from future budgets. The film industry always used their access to celebrity to do the same
Posted on 11/13/24 at 9:42 pm to imjustafatkid
quote:
Among the ideas is an incentive for businesses that pay considerably above the local median wage. But the incentive would not be reserved for any particular industry, she said.
Posted on 11/13/24 at 9:48 pm to PuertoRicanBlaze
I worked in Louisiana film for 4-5 years. Been in Georgia a little over a decade now. If that bill is signed by the Governor, Louisiana will be dead. I hope it doesn’t for my friends’ sake. Also if that happens, I don’t see it doing a whole lot for Georgia in regards to many more shows.
Talk to a lot of people on this issue. Seems the studios are really pissed/annoyed with the Southeast. There have been more grievances filed than normal and it’s usually to get more crew members hired (doesn’t mean it works). Those grievances make it to the studios attention back in California. The studios just want to have their shows made and not have to deal with extra issues happening in another state or country. There are other things going on too which is beginning to price the area out.
The writing is in the wall. Those in the business can see Los Angeles is getting more shows and even stealing some from the South. They are not as busy as they are used to but their books are landing more shows in comparison. The South has to fix the things that have annoyed the studios so that they won’t keep pulling away. I suspect a slow 2025 down here. There will still be shows but not expecting a big boom. As for Louisiana, fight hard, make your phone calls and keep your incentive!
Talk to a lot of people on this issue. Seems the studios are really pissed/annoyed with the Southeast. There have been more grievances filed than normal and it’s usually to get more crew members hired (doesn’t mean it works). Those grievances make it to the studios attention back in California. The studios just want to have their shows made and not have to deal with extra issues happening in another state or country. There are other things going on too which is beginning to price the area out.
The writing is in the wall. Those in the business can see Los Angeles is getting more shows and even stealing some from the South. They are not as busy as they are used to but their books are landing more shows in comparison. The South has to fix the things that have annoyed the studios so that they won’t keep pulling away. I suspect a slow 2025 down here. There will still be shows but not expecting a big boom. As for Louisiana, fight hard, make your phone calls and keep your incentive!
Posted on 11/13/24 at 10:15 pm to TouchedTheAxeIn82
RIP Celtic Studios in BR
They already turned one stage into a pickle ball court
They already turned one stage into a pickle ball court
Posted on 11/13/24 at 10:43 pm to ipodking
Isn't 50 Cent building a mega-studio/media compound in Shreveport???
Seems like bad timimg for him, but I'm guessing he is getting some major $$ from local or even state level EDCs.
Seems like bad timimg for him, but I'm guessing he is getting some major $$ from local or even state level EDCs.
Posted on 11/14/24 at 6:42 am to TouchedTheAxeIn82
Way to kill the golden goose dumbasses!
Posted on 11/14/24 at 8:38 am to Jack Ruby
quote:
Isn't 50 Cent building a mega-studio/media compound in Shreveport???
He is, and he bought a bunch of property in Downtown Shreveport. His latest Instagram post said "it didn't feel good but he's waiting to see how it plays out"
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