La. Admin. Code tit. 61 § I-1603

Current through Register Vol. 50, No. 8, August 20, 2024

Section I-1603 - General Description

A. The program offers two distinctive incentives: production and infrastructure.

1. Production

a. If the total base investment exceeds $300,000, each investor shall be allowed a tax credit based upon their investment as follows:

i. for state-certified productions initially certified on or after January 1, 2004, but before January 1, 2006:

(a) a 10 percent tax credit, if the total base investment is more than $300,000 and less than $8,000,000;

(b) a 15 percent tax credit, if the total base investment is more than $8,000,000.

ii. a 25 percent tax credit for state-certified productions initially certified on or after January 1, 2006, but before July 1, 2009;

iii. a 30 percent tax credit for state-certified productions initially certified on or after July 1, 2009.

b. An additional payroll tax credit shall be allowed for any base investment expended on behalf of employing Louisiana residents on state-certified productions as follows:

i. a 10 percent tax credit for state-certified productions initially certified before July 1, 2009; or

ii. a 5 percent payroll tax credit for state-certified productions initially certified on or after July 1, 2009.

2. Infrastructure

a. If the total base investment exceeds $300,000, each investor shall be allowed a tax credit based upon their investment as follows:

i. a 40 percent tax credit for state-certified infrastructure projects, for which applications for initial certification were received by the office and the department prior to January 1, 2009:

(a). for applications received before August 1, 2007, there shall be no per project cap on tax credits, except as otherwise provided by the terms of the initial certification;

(b). for applications received after August 1, 2007, the total tax credit allowed for a state-certified infrastructure project shall not exceed $25,000,000 per project.

B. Investor tax credits shall be transferable under the following conditions.

1. Tax credit shall be earned by investors at the time expenditures are made in a state-certified production or state-certified infrastructure project.

2. Credits become transferable only after final certification of expenditures.

La. Admin. Code tit. 61, § I-1603

Promulgated by the Department of Economic Development, Office of Business Development, Office of Entertainment Industry Development and the Office of the Governor, Division of Administration, LR 36:53 (January 2010).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1125.1.