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-1703 - Additional Program Procedures-State-Certified Higher-Education Musical or Theatrical Infrastructure Projects-Receiving Initial Certification on or after July 1, 2015
Universal Citation: LA Admin Code I-1703
Current through Register Vol. 50, No. 9, September 20, 2024
A. State-certified higher education musical or theatrical infrastructure projects 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-qualifying expenditures made in Louisiana, on or before January 1, 2022,
for the construction, repair or renovation of a state-certified higher
education infrastructure project:
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:
a. to the extent that
base investment is expended on payroll for Louisiana residents, an additional
tax credit of 7.2 percent applies;
b. $1,000,000 salary cap. However, the
additional payroll credit shall exclude any payroll amounts paid to one person
exceeding $1,000,000;
3.
Louisiana student credit:
a. 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. Program and Project Caps. No more than $7.2 million in credits per project or $43,200,000 in total program credits shall be granted.
AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6034(E).
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