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Utah is poised to take away some of New Mexico's film business. Perhaps some of our self-proclaimed expert windbags, er, witnesses here should tell them they'd be throwing away their money:
New Mexico may not have to change its program at all and would still lose business since other states besides Utah are jockeying to offer even better incentives.
Wait...with that logic why doesn't the state reimburse everyone $.25 for every dollar they spend?
I could buy tons of stuff from some local store, then sell then undercut the market on ebay and make a bunch of money. Not to mention the state would get tons of money from the GRT and the increase in my income for income taxes. I would be helping out the local businesses and generated more tax income for them (which they would spend generating even more income).
@ Mike, Um... is that sarcasm? It kinda reads that way. Did you even read my post? It sounds like you didn't.
@ ralthor, If you had the potential of spending hundreds of thousands of dollars in NM (using money brought from outside the local economy), then NM might offer you incentives too.
Last edited by dstarstories; 02-04-2011 at 05:53 PM..
Watched the first minute or so of the first clip; then turned it off when the host posed
the question (my paraphrase) "are those who question the film subsidy jealous?"
Watched the first minute or so of the first clip; then turned it off when the host posed
the question (my paraphrase) "are those who question the film subsidy jealous?"
No sense watching much more of that...
Of course not. No reason to watch something that has a different opinion, is there?
Ok, so I'm a filmmaker who has actually spoken to many offices in NM about the film incentive program. Although no expert, I do think this makes me a potential client of the incentive program -- not just a reader of headlines -- and therefore I will relate my understanding. This may be old news to many, but I still think it's needed...
NM will reimburse $.25 to a production for every $1.00 spent in the state of NM on services and products. The incentive program does not reimburse for any products or services purchased outside of NM and does not reimburse based upon the entire production budget of a production -- unless 100% of the production budget is spent within NM (and can be proven). With all reimbursement requests a full accounting has to be made proving that each dollar under consideration -- claimed to have been spent in NM -- was indeed spent in NM.
With that in process in mind, the NM economy is making profit of a ratio 3:1.
Whether the incentive program is being implemented as written -- or whether NM has the tax money to pay $.25 on each dollar spent in NM (since this program is a reimbursement, there seems a problem if the monies don't exist in state coffers) -- is another issue, but as written this incentive program shouldn't be a tax burden to the people of NM. Why? It only pays out after the state has made 3x the monies taken in; in those terms it is not a tax -- monies gathered for a potential purpose -- as much as a reimbursement of monies already spent in the state. If there is a lack of money for paying these incentives, I think it best to see where those monies were used...?
A state with a rapidly growing tax base -- population -- and a growing number of films shooting in-state, shouldn't be having issues... unless they are heavily leveraged elsewhere and haven't allocated any monies to potential films shooting in NM? But then this goes right along with other lack of foresight in infrastructure-building.
Thanks, dstar. Excellent post that makes many of the points I couldn't make as well.
@ ralthor, If you had the potential of spending hundreds of thousands of dollars in NM (using money brought from outside the local economy), then NM might offer you incentives too.
Since all of my income (and, therefore, all of my expenditures in NM) comes from pensions and other retirement income produced from investments outside the NM economy, am I entitled to a rebate? Show me the money !!!
Last edited by jiminnm; 02-05-2011 at 05:47 PM..
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