Friday, April 01, 2011
In One Day, Calif. Film Commission to Offer $100 Million
Backstage: "The California gold rush started 162 years ago but on June 1, there will be another kind of gold rush in the golden state. That morning, movie and TV producers can drop off applications for a share of $100 million in annual state tax credits for productions that meet certain requirements and shoot in the state during the year.
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3 comments:
Here we go again...
the battle between the states for film production rages on and this is a fairly major correspondence in the battle. the california film commission has been fiddling with themselves for such a long time that so many productions have up and left the state in search for greater and greater tax breaks. its interesting to see that they are actually taking action now that the state has been losing so much money in the entertain industry because of both low tax breaks and such high production expenses in the state. it is sad that so much of the film industry is totally based around who will do my work for the cheapest but thats what it is. it is a commercial business and in this game of chess california just made a major move
I did not know that California does this type of tax brake for movies. It is interesting that these run out in less than one day. I wonder if this makes shows stay in California or would they still stay in the state even if this did not exist. I am sure that it might make a handful of productions stay but it might not be worth the amount of money that they spend for this. I wonder if no state did these tax breaks would there be as much movement in this industry. I would be interested to see what movies get these breaks and the amount they get. I hope that all states continue to do this tax breaks as long as it does not affect something else in their budgets.
I am glad to hear that at least one state isn't cutting their film tax. It is amazing that you can only file on that one day and there is no guarantee that you will get it. If that industry produces so much money for the economy, then why don't they expand the tax breaks? Sure, it means the state coffers might be a bit thinner, but I am sure there is another place they can find the money. Ultimately, the money will be poured into the state's economy anyway.
Though, with production budgets so ridiculously high, why can't they afford to pay taxes. I know the entertainment industry is one of, how cheap can we do it, but when you are spending in the millions, pay for it.
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