Hollywood in Louisiana Can Get Costly
PopEater
(Oct. 13) - Taxpayers have enough to worry about, what with stocks plunging and costs rising for everyday needs. Now, for citizens in many states, another burden is being piled on: the cost of paying movie studios large sums in tax credits and subsidies in order to entice filmmakers to set up shop in their neck of the woods.
The New York Times looked into worst cases, here's a sampling:
Louisiana: Thanks to state tax subsidy programs, residents forked over more than $27 million to make Brad Pitt's next film, "The Curious Case of Benjamin Button." The movie's total budget is $167 million.
Skip over this content-- The manager of the state's subsidy program pleaded guilty last year of taking $67,500 in bribes to inflate budgets for an unnamed film production company.
Michigan: Until recently, the financially strapped state offered studios 40 percent rebate on expenditures to filmmakers. Lawmakers are trying to put a cap on the state's film spending, estimated at $200 million a year.
Rhode Island: Producers of straight-to-DVD film "Hard Luck," which starred Wesley Snipes and Cybill Shepherd, reported only $1.9 million in state tax credits despite actually receiving $2.65 million from the state.
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2008-10-13 09:43:22
