President Obama just announced at a press conference that he has directed Treasury Secretary Jack Lew to demand the resignation of the Acting IRS Commissioner, Steven Miller. CNN then obtained Miller's resignation letter...
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- New Podcast: Joe Kristan on Film Tax Credits in Iowa
New Podcast: Joe Kristan on Film Tax Credits in Iowa
An Iowa tax credit review panel recently recommended eliminating eight state tax credits - including the controversial Film, Television and Video Promotion Program, which we've blogged about before. This week's Tax Policy Podcast guest is Joe Kristan of the CPA firm Roth & Company, PC in Des Moines. Kristan writes the company's Tax Update Blog, which has kept close tabs on the Iowa film tax credits scandal. He also contributed to a Tax Foundation Special Report released last week examining film tax credits and movie production incentives around the country.
Iowa's Senate majority leader has said there's a 50-50 chance that the film credit will be repealed and that he would vote to repeal it. Kristan predicts the final result will be a "greatly reduced" film tax credit with a cap of $5 million to $10 million.
"If anything good has come out of the whole film credit mess it's that it has brought all of Iowa's credits under the microscope," Kristan says.
For more information, see Tax Foundation Special Report No. 173, "Movie Production Incentives: Blockbuster Support for Lackluster Policy" or visit our film tax credits page.
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