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Benefits of Maryland’s tax credits for films are questioned

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Benefits of Maryland’s tax credits for films are questioned Empty Benefits of Maryland’s tax credits for films are questioned

Post by confuzzled dude Sun Nov 16, 2014 12:19 pm

A tax credit used to reward “House of Cards” and other productions for filming in Maryland costs taxpayers far more than they get in return and should be scrapped, according to a new report to the General Assembly.

The report, drafted by non­partisan legislative staff, is likely to rekindle a debate that played out in dramatic fashion during this year’s legislative session over how much public assistance state officials should offer to entice the popular Netflix series about a scheming politician.

Since 2012, the report says, Maryland has authorized $62.5 million in tax credits for film and television productions, with HBO’s “Veep” being another big beneficiary. For every dollar granted in credits, state and local governments received only about 10 cents in tax revenue in return, according to legislative analysts.
http://www.washingtonpost.com/local/md-politics/benefits-of-marylands-tax-credits-for-films-are-questioned/2014/11/15/36c467b2-6c2f-11e4-a31c-77759fc1eacc_story.html?hpid=z3

Wonder this applies to big corporations too.

confuzzled dude

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