CNN Swallows Whole the Hollywood Tax Credit Line March 13, 2010 William Ahern William Ahern In an unfortunate story about state film tax credits, CNN opened wide and let Hollywood filmmakers and state tax officials feed them a line about how great film tax credits are. The figures cited as economic benefits are baloney, and states would be better off scrapping their credit programs. Imagine you’re running a regular in-state manufacturering or service company. You are struggling to pay your corporate taxes without laying people off during a recession, and you see a Hollywood production company waltz in, hire a few people for a few months, pay almost no taxes, then leave, all so that some politicians can get their pictures taken with Hollywood stars. What could be more galling? Here’s a thorough report on the subject that will give legislators and reporters the real scoop, and we’ve blogged extensively on this absurd boondoggle in several states. Stay informed on the tax policies impacting you. Subscribe to get insights from our trusted experts delivered straight to your inbox. Subscribe Share Tweet Share Email Topics Georgia Film Tax Credits Tags State Tax and Spending Policy