Incentive Mania
It's a trend that just won't stop: states trying to pass tax incentive legislation to lure film and TV productions to their shores. Here is the latest roundup from the Associated Press:
PASSED
COLORADO: Require the state patrol office to help film production companies maneuver through state permits and other bureaucracy; give producers sales and user-tax exemptions for making their films in Colorado. Passed.
LOUISIANA: Updated existing tax program to increase rebates from 15% of production costs to 25% of production costs spent in Louisiana. Created new incentives to encourage building of sound stages and other industry infrastructure in the state. Passed.
MARYLAND: Establish grant programs to rebate half of specified wages paid in the state to people working on qualified film productions up to a maximum of $2 million. Passed.
NEW MEXICO: Expand a tax credit for film companies for a portion of their direct production expenses in New Mexico such as photography and lighting. The tax break covers so-called post production work, including editing, special effects and sound mixing on movies, commercials and video games. Passed.
RHODE ISLAND: Establish a motion picture investment tax credit and a television tax credit for productions in Rhode Island. Passed.
SOUTH CAROLINA: Amend current laws to offer local as well as state tax exemptions for film productions in South Carolina. Passed.
PENDING
INDIANA: Allow film companies free use of state and university property as movie locations; would offer tax credits for the purchasing of movie equipment. Obscene films would be excluded from credits. In conference committee.
OHIO: Create a new tax credit between 15 and 20% of the investment made in Ohio by moviemakers. Pending in committee.
OREGON: Create rebate for labor costs incurred while filming in Oregon. Awaiting full House vote.
TENNESSEE: Establish a film production tax credit for qualified productions. Awaiting committee hearing.
FAILED
ALABAMA: Create employment tax credits for certain movie projects and companies; extend sales and lodging tax exemptions for movie production companies. Failed.
ARKANSAS: Expand refund of state taxes paid during a movie's production. Failed.
HAWAII: Replace existing tax credits with a new credit for motion picture, digital media and film production based on a certain percentage of the production's costs incurred in Hawaii. Cap credit at $8 million per production. Failed. (ooh, that's harsh!)
TEXAS: Offer tax exemptions on hotel stays and vehicles purchases for use in film productions. Failed. Offer grants to film makers based on how many workers hired in Texas. Passed, but without the $20 million in funding to run the program.
More info here:
>> States hope breaks lure movie business [AP/USA Today, 7/22/05]
PASSED
COLORADO: Require the state patrol office to help film production companies maneuver through state permits and other bureaucracy; give producers sales and user-tax exemptions for making their films in Colorado. Passed.
LOUISIANA: Updated existing tax program to increase rebates from 15% of production costs to 25% of production costs spent in Louisiana. Created new incentives to encourage building of sound stages and other industry infrastructure in the state. Passed.
MARYLAND: Establish grant programs to rebate half of specified wages paid in the state to people working on qualified film productions up to a maximum of $2 million. Passed.
NEW MEXICO: Expand a tax credit for film companies for a portion of their direct production expenses in New Mexico such as photography and lighting. The tax break covers so-called post production work, including editing, special effects and sound mixing on movies, commercials and video games. Passed.
RHODE ISLAND: Establish a motion picture investment tax credit and a television tax credit for productions in Rhode Island. Passed.
SOUTH CAROLINA: Amend current laws to offer local as well as state tax exemptions for film productions in South Carolina. Passed.
PENDING
INDIANA: Allow film companies free use of state and university property as movie locations; would offer tax credits for the purchasing of movie equipment. Obscene films would be excluded from credits. In conference committee.
OHIO: Create a new tax credit between 15 and 20% of the investment made in Ohio by moviemakers. Pending in committee.
OREGON: Create rebate for labor costs incurred while filming in Oregon. Awaiting full House vote.
TENNESSEE: Establish a film production tax credit for qualified productions. Awaiting committee hearing.
FAILED
ALABAMA: Create employment tax credits for certain movie projects and companies; extend sales and lodging tax exemptions for movie production companies. Failed.
ARKANSAS: Expand refund of state taxes paid during a movie's production. Failed.
HAWAII: Replace existing tax credits with a new credit for motion picture, digital media and film production based on a certain percentage of the production's costs incurred in Hawaii. Cap credit at $8 million per production. Failed. (ooh, that's harsh!)
TEXAS: Offer tax exemptions on hotel stays and vehicles purchases for use in film productions. Failed. Offer grants to film makers based on how many workers hired in Texas. Passed, but without the $20 million in funding to run the program.
More info here:
>> States hope breaks lure movie business [AP/USA Today, 7/22/05]
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posted by mynette at
11:14 AM
