- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
New accounting firm, same story; films are a big loser.
Posted on 3/29/19 at 8:26 am
Posted on 3/29/19 at 8:26 am
quote:
Despite changes made by lawmakers to rein in the state's film tax credit, taxpayers still lose roughly two-thirds of the money they put into the program.
Once again we see how buying business costs taxpayers vital dollars at a time when we have little money to grow our infrastructure.
Every two years LED is obligated to study the program and report their findings to the legislature, and every two years we hear the same thing.
Jindal was responsible for growing the program, and it has been cut back some; however, now it’s Edward’s baby and after a trip to Hollywood, he appears to be all in too.
quote:
The state has issued $1.5 billion in tax credits as part of the program since 2012, according to figures provided by Louisiana Economic Development. That includes roughly $150 million handed out in 2018.
La. collects a lot of taxes. When officials complain they do not have money to replace bridges, improve highways or for education remember; they decided to fund film making instead of taking care of our state.
LINK
16
Posted on 3/29/19 at 8:27 am to doubleb
TLDR I hated doing accounting, got bless accountants and accounting firms
Posted on 3/29/19 at 8:28 am to doubleb
It's all worth it for that pic I got with Tom Hanks last year
Posted on 3/29/19 at 8:31 am to doubleb
Can any business still buy unused credits from film companies and apply to state income tax as in years past?
Posted on 3/29/19 at 8:33 am to doubleb
But but... people can say they work in the movie business.....
Posted on 3/29/19 at 8:36 am to doubleb
The unwanted influx of hipsters and scumbag liberals with clothes from Goodwill and Bluetooth ear accessories were the worst part of it all.
Posted on 3/29/19 at 8:36 am to Johnpettigrew
quote:
Can any business still buy unused credits from film companies and apply to state income tax as in years past?
These credits can be bought and sold or turned in to the state who is obligated to buy them back.
Credits often exceed the recipients tax obligations do there is a market for them as well selling them to the state.
Posted on 3/29/19 at 8:36 am to doubleb
Ron Swanson slash it gif. That’s what I need right here
Posted on 3/29/19 at 8:41 am to doubleb
quote:
officials complain they do not have money to replace bridges, improve highways
La DOTD repairs and maintenance funded solely by gas tax revenues right now.
Family member works for DOTD and says they never have any money. And adds that Texas front loads $1B for roads and highways every year(because they get asked all the time why La roads aren’t like Texas roads)
Posted on 3/29/19 at 9:14 am to doubleb
I knew there was a market at one time. I actually bought them for couple years before oil tanked. Have not had a need for them since, but I thought they may have closed that loophole
Posted on 3/29/19 at 9:19 am to doubleb
The movie industry is a growing problem here in Georgia too. Although I havent read any articles about them being a net loss for the state tax wise, their constant bitching about our politics and trying to influence them from the outside is getting to the point where I would rather they frick off altogether than keep dealing with them. We will be fine without them as we were before they came here.
Posted on 3/29/19 at 9:29 am to doubleb
Just another Corporate Welfare Scam on the taxpayers to funnel more of our money to the billionaires that hire lobbyists to provide "legal" kickbacks to CORRUPT Politicians
Posted on 3/29/19 at 9:31 am to doubleb
Help me understand this.
So the movie industry gets tax credits that is an incentive for them to come here to make movies right?
By them coming here, it doesn't really cost the state right? So if the state offers these tax credits and no filming company comes into the state, how does that benefit the state more than if companies actually come in and take advantage of the tax credits?
Even if they were bringing in most of their people, there were businesses in state that was built specifically for the film industry. And to some degree having the people come into the state, they still have to spend some money here if they are here for months at a time.
So what am I missing? Why would people be against this?
So the movie industry gets tax credits that is an incentive for them to come here to make movies right?
By them coming here, it doesn't really cost the state right? So if the state offers these tax credits and no filming company comes into the state, how does that benefit the state more than if companies actually come in and take advantage of the tax credits?
Even if they were bringing in most of their people, there were businesses in state that was built specifically for the film industry. And to some degree having the people come into the state, they still have to spend some money here if they are here for months at a time.
So what am I missing? Why would people be against this?
Posted on 3/29/19 at 9:44 am to OweO
quote:
So the movie industry gets tax credits that is an incentive for them to come here to make movies right?
Yes
Posted on 3/29/19 at 9:46 am to choupiquesushi
quote:
But but... people can say they work in the movie business.....
We like to call it "the biz"...
Posted on 3/29/19 at 9:47 am to OweO
quote:
By them coming here, it doesn't really cost the state right? So if the state offers these tax credits and no filming company comes into the state, how does that benefit the state more than if companies actually come in and take advantage of the tax credits?
Even if they were bringing in most of their people, there were businesses in state that was built specifically for the film industry. And to some degree having the people come into the state, they still have to spend some money here if they are here for months at a time.
Because the State is basically funding a large part of production for millionaires who will jump ship when another State offers more incentive.
It's far different than tax breaks, this is literally paying a credit for the expenses they incurred.
Posted on 3/29/19 at 9:47 am to GeorgiaTiger678
quote:
their constant bitching about our politics and trying to influence them from the outside
This is an unforeseen consequence by our "conservative" leaders. Concerning here in TX as tech companies are moving in, and doing the same. Toyota forced "gay right" stuff onto the area they came too.
Why TX is definitely on the ledge of moving blue soon if not kept in check.
I heard an interview with a former head of Oracle, where he said that tech companies need to move into "fly over country" or "we'll keep seeing the election results we are seeing". Obvious reference to Trump.
Posted on 3/29/19 at 9:49 am to RogerTheShrubber
quote:
Because the State is basically funding a large part of production for millionaires who will jump ship when another State offers more incentive.
Okay, so the state is actually spending tax dollars to get them here?
I was thinking it was more of a tax break.
Posted on 3/29/19 at 9:51 am to OweO
quote:
Okay, so the state is actually spending tax dollars to get them here?
These companies can recoup about half or more of their expenses to shoot in the State, depending on the State. Yes, the State pays.
Posted on 3/29/19 at 10:00 am to doubleb
The Hollywood Signal lured in all these wanna be Progressives. People wanted to say they were Hollywood at any cost.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News