Maryland is not the only place setting up and refining taz incentives. So is Ireland.
“Irelandâ€™s film and television industry has received a welcome boost from the Minister for Arts, Sport and Tourism, Martin Cullen. In a press release issued on 8 December 2008, the Minister outlined significant enhancements to the Section 481 relief for investment in film and television projects. The enhancements will be brought about by the Finance Bill (No. 2) 2008 that is currently being considered by Irelandâ€™s houses of parliament.
ReadÂ the rest of the details below.
Continue reading “Ireland sets up tax incentives for filmmakers”
Jay Hancock, Business Columnist for the Baltimore Sun, struggles to make sense of Maryland plans to be in the film investment biz:
Good thing for Maryland, too. Louisiana taxpayers had to pay the Benjamin Button producers $27 million, according to state officials. The sales tax from Cate Blanchett’s hotel bill and income tax paid by the key grip could not have come close to making up for that outlay.
“There’s no way you can say these things make money” for the state budget, says Greg Albrecht, chief economist for the Louisiana Legislature. Extra tax revenue generated by films, he adds, “is not going to come close to the direct payment you’re going to make. Basically, you’re just flowing money out of the public treasury into the private sector.”
I am a Baltimore native,Silicon Valley transplant, currently interested in film finance. In particular, I am interested in the different ways high risk, high reward ventures are funded between Hollywood and Silicon Valley when the products are becoming hard to distinguish from each other.
Read my complete opinion below.
Continue reading “Making sense of Maryland’s Film Finance Plans”