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The Final Push for a Local Film Industry Tax Break
2
@1 Remember, a good junk of the Stranger's readership has useless film degrees from SCCC. Gotta keep the hypocrisy alive.
5
Again, it's not a tax-break. This bill allows Washington business to direct a portion of their State B&O tax to a rebate offered to production companies to defray the costs of shooting in Washington State.
The production companies pay the same taxes, the Washington State businesses pay the same taxes, those employed by the filming pay their taxes, everyone pays the same in tax.
The production companies DO receive approximately 30% in rebates on their costs. However, the rebate is limited to monies spent in Washington, and only paid out after the money is spent and the expenses reviewed.
In exchange for this $3.5M a year, many times more than that is spent by the production companies. The economic impact of this tax-earmark is felt across the state.
Lastly, this program is funded by business voluntarily redirecting their B&O taxes.
The production companies pay the same taxes, the Washington State businesses pay the same taxes, those employed by the filming pay their taxes, everyone pays the same in tax.
The production companies DO receive approximately 30% in rebates on their costs. However, the rebate is limited to monies spent in Washington, and only paid out after the money is spent and the expenses reviewed.
In exchange for this $3.5M a year, many times more than that is spent by the production companies. The economic impact of this tax-earmark is felt across the state.
Lastly, this program is funded by business voluntarily redirecting their B&O taxes.
6
OK then, it is not a tax break, it is just the government handing out money to companies that make movies. Because they are shaking us down like pro sports teams.
7
It’s moving money from schools to film, pure and simple. Its an bad idea: Sony Imageworks just pulled out of New Mexico which had better incentives, is next door to LA and has amazing locations. The reason: a challenging film market, new media and any number of states offering better incentives. This proposed incentive plan is cooked up by WA FW, an organization devoted to tourism, not film. Look at the make-up of their board. They simply want LA companies to come here, film and leave, not build an industry here. There are ways to do it, this isn't it.
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