Tax Candi

The Curious Case of Benjamin Button was rather underwhelming, though I will admit that Double Jeopardy is a guilty pleasure. Since both were partially filmed Louisiana, today's tax credit will focus on bringing more creative art to the bayou state.

Louisiana Film Tax Credit

Louisiana offers a fully transferrable tax credit to businesses filming a motion picture within the state. Tax credit is 25% (well, 30% come fall) of expenditures made in the state--the minimum eligible expenditures is $300,000.

Wannabe film-makers need to apply with Louisiana Economic Development. The application requires a detailed budget, distribution plan and of course fees, but they also want the snyopsis and script--maybe the economic development folks are critics in the making...

Musician types should also check out the similar Sound Recording Investor Tax Credit.

Update on Wednesday, July 22, 2009 at 10:07PM by Jennifer Crane

Check out a major motion picture that, I'm sure, will be making use of the tax credit -- Sony & Columbia are shooting scenes for "Battle for Los Angeles" in Baton Rouge.  Hat tip to @visitbatonrouge.

I have been craving crepes from my favorite bistro in Chicago, which inspired today's incentive: 

Crepe --> French Food --> French Quarter --> New Orleans --> Louisiana -->

And vióla, Louisiana Enterprise Zone Jobs Incentive!

This program provides a one-time Income and/or Franchise Tax job tax credit to a business increasing its workforce in Louisiana.  The company must increase its site employment by 10% within first 12 months OR create a minimum of 5 net new jobs within first 24 months. Of those jobs hired, at least 35% of its net new jobs must meet at least one of four targeted groups. 

The amount of the tax credit is $2,500 for each certified net new job created. AND, if the job requirement is met, the company may also be able to take advantage of either:

1) a Sales/Use Tax Rebate for taxes paid on materials, furniture, fixtures, machinery and equipment purchased and used exclusively in the Enterprise Zone site; OR

2) a 1.5% Refundable Investment Tax Credit for capitalized investment.

Note a couple of interesting things about this Enterprise Zone program -- unlike other states, Louisiana does not require new capital investment.  Also, the business does not need to be located within an Enterprise Zone, it must only create new jobs in an Enterprise Zone.

Interested companies must submit an Advance Notification Form prior to and an Application within 90 days after the project start date.

Check out the pretty sweet and easily searchable Lousiana Economic Development website!