Popular Louisiana film tax credit among those Gov. Landry seeks to clip

SHREVEPORT, La. (KTAL/KMSS)—Louisiana Governor Jeff Landry has a new tax plan. In November, the Louisiana Legislature will convene for a Special Session to examine and potentially overhaul the state’s tax system.

His plan is to cut many tax exemptions, including the film tax credit. The Louisiana Motion Picture Production Tax Credit provides productions up to a 40 percent tax credit on total in-state expenditures.

Louisiana was the first state to introduce a movie-making tax credit in 2001. Now, 15 states, including Texas, Arkansas, and Oklahoma, have tax credits or incentives to encourage filmmaking outside of the traditional Hollywood locations.

Some in Shreveport say the credits should remain to compete with these other states.

Shreve Memorial Library seeks local authors

Garrett Kruithof, who owns Northwood Acting Studios, said, “I think the fact that other states are rushing to have their own film and television incentives packages should make us more apt to move forward with more incentives rather than less.”

Visit Shreveport-Bossier Film and Entertainment Commissioner Wade Marshall admits the tax credits do make a difference, saying, “When I get calls from productions, that’s one of the main things they want to talk about, what are the incentives that the state offers that kind of thing it is a big draw.”

Marshall also believes that even if the credits go away, movies will still be made here on some level.

Curtis “50 Cent” Jackson leased the former Millenium Studio building and plans to remodel and rename it G Unit Studios, but some wonder how the credits cut will affect G Unit Studios.

Shreveport Mayor Tom Arceneaux had this to say about it: “The governor made some time to visit with Mr. Jackson and his team and me. We had a very productive discussion on what that might look like, what might happen if the proposals pass, how that might affect how we would go forward, and what might be done as a substitute.”

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to KTALnews.com.