La. Admin. Code tit. 61 § I-1663

Current through Register Vol. 50, No. 9, September 20, 2024

Section I-1663 - General Description

A. The program offers a tax credit for the producers of digital interactive media projects, which submitted applications prior to January 1, 2009 and for the producers of digital interactive media products and platform projects which submitted applications on or after July 1, 2009.

B. Tax credits are earned per calendar year at the time funds are expended in Louisiana on a state certified production.

C. Tax credits shall never exceed the total base investment in a state certified production.

D. For expenditures incurred prior to January 1, 2012, credits are non-refundable, transferable credits with a 10 year carryover period. For expenditures incurred on or after January 1, 2012, credits are refundable, contain no transferability or carryover provisions, and a company may elect, on a one time basis, to receive an 85 percent rebate instead of the refundable credit.

E. These rules shall be subject to oversight by the House Committee on Ways and Means and the Senate Committee on Revenue and Fiscal Affairs, in accordance with the Administrative Procedure Act.

F. Applicants may apply for more than one tax credit program administered by the Department of Economic Development, provided that:

1. separate applications are submitted per program;

2. expenditures shall only qualify for one specified program; and

3. multiple applications shall not result in any duplication of tax credits.

La. Admin. Code tit. 61, § I-1663

Promulgated by the Department of Economic Development, Office of Business Development, Office of Entertainment Industry Development, LR 35:632 (April 2009), amended LR 36:1981 (September 2010), LR 39:1009 (April 2013).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6022.