Invest In Louisiana And Save Money On Tax

The film industry in Louisiana emerged in 1898 and currently it is the 3rd most popular location to produce movies in the US

. The popularity of the film industry in Louisiana has earned it a nickname as Hollywood South. In fact, the region has successfully produced more than 600 motion pictures, documentary short films, television series and music videos during that time frame.

Louisiana is well known for its culture, food and unique settings such as swamp lands, historic homes and buildings and overall Cajun culture. But it was not until 2002 that The State of Louisiana passed unique tax incentives designed to promote the film industry which helped the industry really expand. As a result the base of local employees and crews grew up to 400% as per the statistics report of 2011.

The Louisiana Motion Picture Tax Incentive Act has 2 components including investor tax credit and labor tax credit. The main objective of this program is to encourage non-Louisiana based production companies to film their products and provide employment opportunities within the state instead of going elsewhere. Louisianas tax plan is the most generous among any US states offering similar packages, with a 30% tax credit provided for investments of a minimum of $300,000. The benefit to local residents has been increased tax revenues, better employment opportunities and recognition across the world as a major hub for the entertainment industry. You can search over the internet or consult the local experts to find out more Louisiana film information.

Louisiana tax credits can be utilized by anyone with a tax liability in the state including individuals, trusts, corporations, partnerships, limited liability corporations and many more. Not to mention, Louisiana tax credits help produce films in better ways. Even on a tight budget it helps to produce a good film. Here we will discuss some of the top benefits tax credits offered by Louisiana.

Add profit into your business

You will save money through tax credits when you produce film, commercials or videos. Extra money can be a profit for you and this will help you to produce another film. Tax credits make it more lucrative for film producers and investors even in a competitive environment.

Brings employment opportunities to Louisiana

Needless to say, tax credits can bring more employment opportunities to Louisiana. With the growing industry, a more specialized work force is developing locally along with it have been many new educational programs designed specifically to train people to work in this industry. The increasingly skilled workforce means higher quality of labor for out of state companies to choose from.

There are professional tax credit specialists who can help you to maximize the amount of tax credits and therefore have the greatest financial impact on a production. It is also easy to maximize the value of production, digital media and live entertainment through these brokers. Moreover they will also help you to partner with local vendors who have years of experience in film production. They also offer invaluable advice which will be highly useful to increase profits in the film making business. Local studios or sound stages will also be arranged by them and they also help to get loans from banks to produce films.

by: Glenn Farrier

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