PRODUCTION INCENTIVES ALERT

Hello all,

A friend of mine who owns location talent , Louis Herthum told me about the latest Louisiana update: "SB245 did not make it to the vote. So will be voted on tomorrow and needs a 2/3 vote to move forward. HB898 goes back to the House for a concurrence vote. Should be fine. More coming!"

Be well everyone!

Jean-Luc Martin
Producer / Production Manager

PRODUCTION INCENTIVES ALERT
June 19th 2009

LOUISIANA PROPOSED 30% INCENTIVE
SB245 and HB898, which both increase the production tax credit to a 30% transferable tax credit with 5% additional for resident hires, have passed the committee and are moving to the Senate for vote.

MASSACHUSETTS CAPS SALARIES
Massachusetts, which has been the location-of-choice for many larger budget projects because of the lack of any caps on production, salaries, or yearly allocation, has today instituted a $2 million dollar salary cap for all hires. The cap is retroactive to January 1, 2009, except for films that have filed a sales tax waiver prior to June 1, 2009.

The $2 million cap includes per diems, housing and other allowances.

This leaves Alaska and Louisiana as the only states without hire caps (except for residents) or production credit caps. Georgia has a wage cap of $500,000, but no cap on loan-outs and no cap on production credits.