Tax Credit Costs Remain Low Compared to Other Tax Expenditures
As Congress considers comprehensive tax reform, all tax expenditures are under the microscope and possibly at risk because they may be repealed in favor of lower tax rates. However, not all tax expenditures have the same impact on the federal budget.
Tax Credits Lead to 4 More TV Shows Moving to CA
Legion, Lucifer, The Affair and The OA will relocate to California for favorable tax credits. The first two previously filmed in Vancouver, the latter pair come from New York. All told, the Golden State's latest attempt to lure production back will split $99.2 million across 15 small-screen projects.
Boeing Says Linking Tax Breaks to Employment Puts Jobs At Risk
Lawmakers in Olympia have introduced bills to tie aerospace tax credits to recipient employment levels in the state. Boeing spokesman said the company had not had an opportunity to review the legislation, but said Boeing remains opposed to any effort to alter Washington's aerospace tax incentives.
AZ House Rejects New Way for Big Firms to Use Tax Credits
The full Arizona House on Thursday rejected a measure allowing big manufacturing companies like chip-maker Intel to use millions of dollars of existing tax credits they can't currently cash in, despite efforts by the Republican sponsor to make it more palatable.
KS House Embraces $100M Tax Credit to Support Rural Jobs
The Kansas House has overwhelmingly approved a bill to offer up to $100 million in income tax credits over five years to investors throwing resources into job-creating business developments in rural areas of the state. The measure cleared the House on a vote of 97-22.
IA House Proposal Would Cap Tax Credit Spending
A bill introduced in the Iowa House would halt the growth in state spending on tax credits. Rep. Pat Grassley, a Republican from New Hartford and chair of the House Appropriations Committee, introduced House Study Bill 187 which would cap and gradually reduce the amount the state spends on tax credits.
The NM Renewable Energy Tax Credit is Set to Expire
New Mexico's 13-year-old renewable energy production tax credit has generated a lot of bang for the buck in terms of wind and solar generation, but the incentive is set to expire next year. Bipartisan legislation to extend it to 2023 is under consideration, but it's expected to face an uphill battle.
WV Film Office Strongly Opposes Axing Film Tax Credit
Large movie productions are lured by the tax incentives and smaller productions rely on the Film Office to find filmmaking locations. In its 2016 annual report, the state Film Office said, since the inception of the state's film-tax credit in 2007, it's attracted $54 million of movie and TV production investments.