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Accounting for production spending going to in-state people and businesses versus out-of-state people and businesses, the film tax credit program resulted in $32.6 million in new spending for the Massachusetts economy. The film tax incentive program generated additional Massachusetts state GDP of $168.5 million and personal income of $25.2 million.
The state has long sought to preserve a signature industry from the threat “runaway production” — as studios chase more attractive subsidies in the U.K., Canada and Australia, and in other U ...
Louisiana will preserve its tax incentive for film and TV production, with a $25 million cut, under a budget deal reached by lawmakers. The state Senate voted 38-1 on Friday to lower the cap on ...
Since 2018, New Jersey has approved $723 million in tax subsidies for film, television and “digital media” productions, public records show.
Gov. Gavin Newsom unveiled plans over the weekend to raise the cap on California's film and TV tax credit program. Will it save Hollywood from ruin?
House Bill 2, which targets a broad range of incentive programs, aims to simplify the state’s tax code and reduce spending on incentives deemed ineffective or low-yielding.
The state's film incentives program is among the most generous in the nation, offering a direct rebate of between 25% and 40% on an array of expenditures to entice movie projects, employment and infrastructure investments. As a percentage of the state budget, only Georgia pays out more in incentives.
Empire State Development CEO Hope Knight defended state incentives like the Film Production Tax Credit even after a damning independent analysis found the nearly $700 million yearly expense to the ...