Gov. Deal signs tax incentives bill for gaming industry

[Newsboy]

Originally Posted by d from birmingham

Funny that cannot be proven. Also that 3 billion didn't translate into increased revenues.

Anatomy of a Murder | The Weekly Standard these film tax credits often don't increase revenue for the state that does them. It often winds up costing the state that does them big.

Film Tax Credits Don't Give States an Economic Boost - US News

"But states are finding that it is barely worth the lost revenue. A recent report by the Massachusetts Department of Revenue found that of the $44 million in tax credits awarded in 2011, two-thirds of the $175 million in spending generated due to economic activity went to out-of-state workers, and 47 percent of the wages generated, or $53 million, went to those earning over $1 million.

On net, Massachusetts' film credit program is costing the state more than it delivers. After subtracting payments to out-of-state residents and the budget reductions required to fund the credits, only $39 million in state economic activity resulted. The findings have prompted Governor Deval Patrick to cap the state's program to $40 million in annual credits."

Georgia is not Massachusetts. Georgia's law is very specific and unique. It's been a model for other states. Do a little research.

http://www.georgia.org/industries/en...on-incentives/
http://www.backstage.com/news/georgi...entive-actors/
http://variety.com/2014/film/news/ho...ts-1201134693/
http://www.latimes.com/entertainment...,5136837.story

[GeorgiaLakeSearch]

This is very good for Georgia.

At least we are not like Maryland where they raised their residents income taxes to give tax breaks for filming.

[Newsboy]

Originally Posted by GeorgiaLakeSearch

This is very good for Georgia.

At least we are not like Maryland where they raised their residents income taxes to give tax breaks for filming.

Well, that's just the stupidest thing ever.

[Mishap]

I believe Maryland capped their credit at 25M/yr after having it previously capped at 7.5M prior to 2012.

Georgia was expected to spend $86M last year after spending $75M the year before so it's safe to say we're spending a lot more taxpayer money than MD even if we didn't raise our taxes to cover it b/c we're even more aggressive and we don't have a cap. We simply reduced services elsewhere so everyone but the film industry got a tax increase. As of 2010, we had spent over 600M on credits so we're probably north or 800M at this point (there's a whole stadium in there) for companies that don't owe much in taxes in the state and much of the work is migratory and ephemeral while selling those credits to companies that do have massive tax liabilities in the state.

Also, Maryland gives a rebate to the production company only. GA lets the production company sell the credit to anyone (hence the Chick-Fil-A interest in Pinewood). It's also why we've basically bankrolled The Three Stooges, Scary Move 5, What to Expect..., and lots of other terrible scripts that would otherwise be financial suicide.

References:
Georgia's blank check to Hollywood | Feature | Creative Loafing Atlanta
California’s Top Five Competitors for Film & TV Production Dollars