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LA Film Tax Credit
Film production in Louisiana has greatly increased over the last several years due in part to tax incentives offered by the state. If handled correctly, these incentives can be beneficial to not only production companies, but Louisiana taxpayers as well.
Through the Louisiana Motion Picture Tax Incentive Act passed in 2002, production companies receive transferable Louisiana income tax credits for expenditures to Louisiana companies on film and video productions based in Louisiana. Because most production companies have no Louisiana state tax liability, their incentive is realized through the sale of these credits to Louisiana taxpayers. In turn, Louisiana taxpayers can apply these purchased credits to their overall state tax liability reducing their total amount owed.
Heard, McElroy & Vestal has been involved in purchasing motion picture investor tax credits since their inception to help our clients reduce their state tax liability. We purchase only high quality, certified credits and use our expertise to apply them to situations that will see the most benefit.