The car tax has been in the news recently in Connecticut and Virginia, the only two states that levy it. It’s important to distinguish this tax, which is a property tax on actual cars, from a sales tax that affects the...
- Map: Film Tax Credits by State, 1992 - Present (April 2010)
Map: Film Tax Credits by State, 1992 - Present (April 2010)
In the last decade, state governments have enacted numerous movie production incentives (MPIs), including tax credits for film production. MPIs are popular with state officials and many of their constituents but often escape routine oversight about benefits, costs and activities. Based on fanciful estimates of economic activity and tax revenue, states invest in movie production projects with small returns and take unnecessary risks with taxpayer dollars.
MPIs fail to live up to their promises to encourage economic growth overall and to raise tax revenue. States claim MPIs create jobs, but the jobs created are mostly temporary positions—often transplanted from other states—with limited options for upward mobility. Furthermore, the competition among states transfers a large portion of potential gains to the movie industry, not to local businesses or state coffers.
Kansas Governor Brownback has signed a H.B. 2059, modifying the tax reduction package passed last year.
Last year, the governor sought a comprehensive tax reform, lowering income tax rates while eliminating deductions. The plan, while...
Hearing of the Finance Committee of the North Carolina Senate
June 11, 2013
Chairman Rabon and Chairman Rucho, Members of the Committee:
My name is...
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