Development Benefits : Louisiana Tax Incentives
Louisiana Motion Picture Investment Tax Credit Program
Transferable infrastructure investment tax credit of 15 percent of base investment expended on state-certified infrastructure project. A transferable 10 percent credit on expenditures for payroll for Louisiana residents employed with respect to a state-certified production. Investment must generally be made and expended prior to January 1, 2008.
Link: Louisiana Film Bill HB 731.pdf
Musical and Theatrical Tax Credit (Broadway South)
Proposed legislation for providing for a refundable 25 percent credit for state-certified infrastructure projects and state-certified musical or theatrical promotions.
Offer live “Broadway bound” productions (including theater, opera, ballet, jazz, comedy revenue and variety entertainment) the following incentives:
- 25% state tax credit on their “base investment”
- 25 % “infrastructure tax credit” based on construction costs
- 10% tax credit on payroll for Louisiana residents
• Offer tax credits which enhance the GO Zone and other economic development incentives presently unique to Louisiana
• Encourage developers to rebuild, repair or renew vital infrastructure throughout the state with private dollars
- Thousands of temporary construction jobs
- Thousands of permanent jobs
• Allow Louisiana to package itself performing arts of the South, thereby:
- Increasing tourism, tourism related employment
- Increasing income, sales and property tax revenues
• Contribute to a well-rounded education for our kids by offering them exposure to the arts on a level heretofore unavailable
• Create an atmosphere whereby our young adults can stay in Louisiana rather than seek career opportunities elsewhere
Louisiana SB 128.pdf
Broadway South Economic Impact Study by Dr. Richardson.pdf
State Historic Rehabilitation Tax Credit
For Louisiana income and franchise tax purposes, a historic rehabilitation tax credit of 25 percent of eligible costs and expenses incurred in the rehabilitation of a historic structure located in a downtown development district.
Restoration Tax Abatement
Generally, if an owner improves, renovates or adds on to a building, the assessed value goes up and so do the property taxes. Under the Louisiana Restoration Tax Abatement (“RTA”) Program, the assessed value and the property assessment can be frozen at the pre-improvement level for five years, resulting in substantial tax savings. In New Orleans, the RTA can be renewed for an additional five years. The tax abatement program is available for buildings individually listed in the National Register of Historic Places or buildings that are considered historic components of Register districts. Another important feature of the state tax abatement program is that, in most cases, the financial benefit applies to additions to a building as well as to work on the building itself, thus increasing the tax savings.
Enterprise Zone Program
The Enterprise Zone Program is a Jobs Incentive program that provides Louisiana Income and Franchise tax credits of $2,500 for each new job filled by a business hiring a minimum number of net new employees. Thirty-five percent of these new jobs must be filled from certain targeted groups. A business does not have to be investing money, just creating additional jobs. The creation of jobs may result in sales/use tax rebates as well.
2007 EZ Facts
Link to 2007 EZ Facts PDF
Quality Jobs Program
This program provides a cash rebate as an incentive to encourage targeted businesses to locate in Louisiana, create quality jobs and promote economic development. This program is administered by Louisiana Economic Development.
Link to QJ Facts PDF
GO Zone Guide
Tax Incentives PDF