$300,000 in Louisiana expenditures, $50,000 for local Louisiana productions meeting certain requirements.
Only expenditures made for tangible goods and services directly related to the state-certified production within the borders of the State of Louisiana. That includes production payroll for residents and non-residents alike, as long as it is for work performed in Louisiana. The application is available online at www.LouisianaEntertainment.gov.
To the extent that base investment is expended on payroll for Louisiana residents employed in connection with a state-certified production, each investor shall be allowed an additional tax credit of 10% for Louisiana resident payroll. The additional 10% credit is only allowed on the first $3 million of a resident’s payroll. Any amount above that shall be eligible for the 30% credit only. It must be expended on a natural person (not a loan-out) in order to qualify for the additional 10%.
Services will qualify if performed in Louisiana. Goods will qualify if purchased through a source in Louisiana.
A source is a physical nexus with at least one full-time employee and posted business hours.
A legal resident who has been domiciled in the state of Louisiana for more than 12 consecutive months of each year within the state is considered a Louisiana resident. The resident must sign a declaration of residency and provide supporting documentation for the production.
Yes, the credits are fully transferable.
Please direct additional inquiries concerning the Tax Credit program to Louisiana Entertainment who administers the program. You may find what your looking for here.