Roll the Credits (Income Tax Credits)
New Mexico, Pennsylvania, Massachusetts and California are all among the more than 30 states that provide up to a 25 percent tax credit for production expenses incurred there. In Georgia, that rate is 20 percent to 30 percent, while Louisiana and Missouri offer up to a 35 percent credit. These credits usually require that a certain percentage of total filming be completed in that state.
STODOLA, The Fiscal Times
Big money goes into the movies that will be celebrated at Sunday’s Academy Awards – in 2007, the average Hollywood production cost over $106 million. What’s lesser known is that a good chunk of that funding comes from the government, which often sees film production as an attractive way to pump money into its economy. Click through the slideshow above to see eight ways that your tax dollars subsidize the film industry. Too bad you don’t get a percent of the gross in return.
The Untouchables photo: Paramount Pictures