Alex Schott just sent us a clarification email, which we’re happy to excerpt in the interest in promoting production in the Sportsman’s Paradise of Louisiana:
“Technically, the film incentives are more lucrative
for some since it [the recent legislation] actually raised the percentage from 15% to 25%. The only catch is that the money has to be spent in state.”
More, Alex notes that films can still do just 80% of the production in Louisiana and still qualify for rebates.
We didn’t mean to misrepresent the tax issue.
But truth be told, Hollywood’s already got the world’s most substantial post-production business. If the money saved from Louisiana’s tax rebates has to be spent in Louisiana, many producers I’ve spoken to say that the rebate isn’t always worth getting, because it might mean spending more on post production than if they’d shot their movie in L.A. or Canada.
It’s a complicated issue, and while we gratefully accept the clarification from Alex, we also submit that more fine tuning to the legislation may be needed in order to keep Hollywood’s fickle heart pumping on the Bayou.