Tax Cap - not gonna happen

From Hollywood East Connection 

By: Christine Tello-Lorenz

March 11th, 2010

The people of the Mass. film community spoke and apparently were heard after House Bill 3854‏, the state’s attempt to cut the film tax credit, was struck down by lawmakers on Thursday, March 11th.  After much debate, the Joint Committee on Revenue rejected legislation HB 3854 filed last year by Representative Steven D’Amico that would have rolled the film tax incentive back to 2006 levels.

A Boston Globe article quoted the president of the MA Production Coalition upon hearing the result, “Defeating this bill is an important step in preserving the hard-won gains for the scores of Massachusetts businesses and the thousands of working men and women in the Commonwealth who have benefited from the film credit” …” The Commonwealth simply can’t afford to lose the film credit.”

Enacted in 2006, the Mass. Film Tax credit provides a refundable tax credit for 25 percent of qualifying wage and non-wage production expenses and a sales tax exemption for in-state spending.  No doubt the local film community will be celebrating this win tonight.  Click here for a complete list of every feature film shot in Massachusetts.

 

 

 
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