The Louisiana Legislature is reviewing proposed tax code changes, including potential reductions to the state’s film tax credits, sparking debate among industry advocates and lawmakers. During the House Ways and Means Committee meeting, leaders from Louisiana’s film industry, including Jason Waggenspack of Film Louisiana talked about the history of Louisiana tax incentive program.
“In 2002, Louisiana was the first state to create a film program, and now over 40 states have copied that, and not only 40 states, but several other countries have copied our program. And we’re in the top five in the United States for film production right here.”
Waggenspack argued against cutting the film tax credit, citing its significant economic impact. Waggenspack highlighted that the program supports over 3,000 productions, contributing around $1 billion in annual sales and $360 million in local payroll.
“So if you look at it like this, $180 million in our tax credit program goes out…$360 million goes directly to Louisiana residents and over $600 million in sales on top of that goes to the state of Louisiana.”
Trey Burvant of Secondline Studios emphasized the role of film delivers a lot of the results in tax reform that Louisiana is looking for Burvant noted that film workers earn an average annual wage of $65,000–$68,000.
“And when we mention that average wage, that’s not over 12 months. That’s usually earned within eight to ten months. Because the nature of how films work.”
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