Louisiana Administrative Code
Title 61 - REVENUE AND TAXATION
Part I - Taxes Collected and Administered by the Secretary of Revenue
Chapter 16 - Louisiana Entertainment Industry Tax Credit Programs
Subchapter E - Musical and Theatrical Production Income Tax Credit Program
Section I-1701 - Additional Program Procedures-State-Certified Musical or Theatrical Production-Receiving Initial Certification on or after July 1, 2015
Universal Citation: LA Admin Code I-1701
Current through Register Vol. 50, No. 9, September 20, 2024
A. State-certified musical or theatrical productions receiving initial certification on or after July 1, 2015 shall be eligible for the following types of tax credits at the prevailing statutory rates, currently as follows.
1. Base
Investment Credit
a. If the total base
investment is more than $100,000, but less than $300,000 dollars, a tax credit
of 7.2 percent applies.
b. If the
total base investment is more than $300,000, but less than $1,000,000, a tax
credit of 14.4 percent applies.
c.
If the total base investment is more than $1,000,000, a tax credit of 18
percent applies.
2.
Louisiana Resident Payroll Credit. To the extent that base investment is
expended on payroll for Louisiana residents, an additional tax credit of 7.2
percent applies.
3. Louisiana
Student Credit. To the extent that base investment is expended to employ
students enrolled in Louisiana colleges, an additional tax credit of 0.072
percent applies.
B. Louisiana Resident Payroll Cap. To the extent that base investment is expended on payroll for Louisiana residents, the additional payroll credit shall exclude any payroll amounts paid to one person exceeding $1,000,000.
AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6034(E).
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