May 26, 2012

Louisiana Increases Tax Incentives

by Rebecca Pahle | Published July 21, 2009

Louisiana Governor Bobby Jindal has signed HB 898 into law, raising the film production tax credit for the state from 25 to 30 percent and eliminating the planned reduction of the tax credit program. States such as Georgia—whose tax incentive Louisiana has now matched—and Michigan have been luring productions away from Louisiana in recent years due to aggressive tax incentives; according to Governor Jindal, the signing of HB 898 will “[ensure] that we not only have the ability to remain economically competitive, but that we can continue to move our state forward by making Louisiana the greatest place in the world to find a great paying job and raise a family.”

“I think this means that we can now reach out to the studios and the independent producers and say that Louisiana is committed as ever to the film industry,” says Shreveport, Louisiana-based producer Lampton Enochs. “The state that so many people have turned to for successful filmmaking is right back there in the heat of competition.”

Also signed into law was SB 277, which will provide for a 25 percent tax credit on digital media production expenditures and an additional 10 percent for Louisiana resident payroll expenditures (making for a 35 percent total credit for resident payroll for digital media).

For more information visit www.louisianaentertainment.gov/film.

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Comment by hotels in new york on 7/21/09 at 10:39 am: Bye bye filmproduction.
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Comment by Online Tax Preparation on 12/18/09 at 12:53 am: I recently heard that the goverment might be offering tax incentives for the purchase of a home this year to spur the housing market. If they do this does it matter if I close anytime during the year? Also this will be my first home and my primary residence.
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