Kansas Reloads Film Production Tax Credit After Two-Year Suspension
By Paul Soutar on June 22, 2011
The film production credit, passed by the 2007 Legislature and signed into law by Gov. Kathleen Sebelius, lets film production companies write off 30 percent of direct production expenditures made in Kansas that are directly attributable to the production of a film in Kansas.”
States have provided nearly $6 billion in film incentives in the last decade and a record 40 states offered $1.4 billion in 2010 according to the report, Movie Production Incentives: Blockbuster Support for Lackluster Policy. “All told, states have provided nearly $6 billion for such programs over the past decade. 2010 will likely stand as the peak year, since many governors and legislators are ending their programs, preferring to use the money for other priorities or leave it with taxpayers.
The Tax Foundation recommends that, “At a minimum, film incentive programs should be required to report how many dollars in incentives were provided per each Full-Time Equivalent job created by qualified productions.”
The film incentive was one of 42 tax incentives that were cut, capped or suspended in 2009 in an effort to balance the state’s budget. The full plate of incentives is back on the table as of Jan. 1, 2011.
Thursday, June 23, 2011
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