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Started By
Message
re: $63.5 million Deep South Studios proposed for New Orleans Metro
Posted on 6/12/14 at 8:11 am to Dire Wolf
Posted on 6/12/14 at 8:11 am to Dire Wolf
quote:
Tax credits aren't subsidies
Yes, they are. Give me $10b in these "tax credits" and see how that works out for you. Hell, I promise to pay double in state taxes than what I normally pay so its a win-win, right? :roll eyes:
quote:
The state isn't paying them to be here.
Yes, they are.
1
Posted on 6/12/14 at 8:22 am to Asgard Device
Exactly. They are called tax credits, but they really aren't. They pay the film companies back for 30% of their expenses, NOT tax expenses, straight expenses. Those film companies can also sell those credits back to the state or to other companies. There have been multiple studies showing that the state comes out far behind money wise, but I still think it may be a net positive for the state. All of the extra attention really does seem to be helping our tourism dollars, but that may be a stretch as well.
Posted on 6/12/14 at 8:32 am to kingbob
The La. Legislature toyed with dropping the credits 5-10% last year and many threatened to pull out.
Look how quickly the movie industry left California to come here.
Just as soon as there is a better deal in another state, there will be some giant vacant warehouses in Louisiana.
Look how quickly the movie industry left California to come here.
Just as soon as there is a better deal in another state, there will be some giant vacant warehouses in Louisiana.
Posted on 6/12/14 at 8:34 am to Dire Wolf
quote:If the state buys the credits back from the business at $0.85 on the dollar, then it was actual cash paid by the state. I would imagine the state is entitled to cash it has on hand.
That is all assuming the state is entitled to that money.
If the business sells the credits to other taxpayers who apply the credits to reduce the amount of cash they pay the state, then the state has to do without the cash that it was entitled to from the taxpayers who applied the credits.
Either way the state was entitled to the money for the credits.
quote:No, but what does this have to do with the topic?
I assume you pay the maximum amount of your income to uncle Sam every April.
Posted on 6/12/14 at 8:34 am to Traffic Circle
I remember. My SO works in the industry and after talking to many of the owners, producers, ect, it was all a bluff. They weren't going to leave in large numbers if it had been dropped that amount, but they cried havoc so they could keep their rich fair. Hypocritical, but hey, that's Hollywood.
Posted on 6/12/14 at 9:26 am to jbgleason
quote:
Everyone cites "jobs created" but, after having the "
Pitch Perfect film production camp in my neighborhood for a week I disagree. I talked to a ton of the crew and staff and none of them are from here. They are all in town during the filming and then scatter back to their homes. The only LA folks were the extras and a few contractors doing the low paid hourly jobs (i.e. Traffic control) which causes me to question the self-serving job claims that come from industry and political sources. I need to see a figure from an independent source before I swallow the bait in the future.
yes, but investments like these keep these jobs here. The initial push was to get the business. Now we are setting the table to service the industry with facilities located within the state. This will create long term jobs, filled by locals and transplants.
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