New Mexico faces a film tax cut that will likely reduce production output in the state, Iowa is reeling from a credit scandal, and New Jersey is voting to reinstate them but should there be a national scheme?
*Film Industry Network earns a commission for products purchased through links included in this article.*
One of the champions of the film tax rebate is the state of Michigan, that has seen a revival in its own film industry because of generous tax incentives. New Orleans has also benefited from increased production, as Louisiana also remains a very competitive state for filming.
What about California s recent 15% production output increase in the final quarter of 2010 thanks to tax reductions? This helped commercial production skyrocket and got people working once more.
All these states share common values in bringing productions to shoot locally, but should there be a national program that helps states work together? Iowa is a key example of how locally administered tax rebates failed on an epic scale. The misappropriation of funds damaged the state s reputation despite the best intentions of local government.
A national film tax rebate scheme realistic?
If there were to be a national tax rebate scheme that would be administered by one body like the French CNC, or the British UK Film Council soon to be decommissioned?
There seems to be a lack of unity amongst states on how to proceed with tax rebates, when each community has its own benefits to shoot, including that of international productions.
Added film resources
New Mexico film rebate cut
Iowa Film tax scandal
Los Angeles 15% production increase
Producing, Financing, and Distributing Film: A Comprehensive Legal and Business Guide
Film Industry Network receives a commission when a product is purchased through affiliate links included in this article.