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State tax breaks for films totaled $220 million last year

Thanks to new but controversial tax breaks, 2011 was a marquee year for North Carolina's film industry, which landed big-name projects "Iron Man 3," "Homeland" and "Hunger Games."

Studios chasing tax incentives increased their spending in North Carolina nearly threefold - from $75 million in 2010 to $220 million in 2011. It was a record year, and 2012 should be even better - the N.C. Film Office is projecting the industry will spend at least $275 million.

A year ago, state law changed so moviemakers could get a refund on 25 percent of salaries and money they spent on taxable items in North Carolina, worth up to $20 million per project. It made the state among the most competitive in the nation in tax breaks for the industry.

But even with the investment windfall, Hollywood tax breaks remain a contentious issue. Even in North Carolina, some ask why the entertainment industry should get special treatment. Read reporter Mark Washburn's full report in the Charlotte Observer here.


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Hollywood needs the tax break more than NC

North Carolina is flush with cash while Hollywood is having a rough time of it.  There is a recession everywhere but in North Carolina....... which makes it difficult for people other than North Carolinians to buy movie tickets.  I am happy that NC is able to bail out Hollywood.  And the tax break is a minor amount to a rich state like us.  You have to love the family values that are so much a part of Hollywood films.  Make you glad we are picking up the tab.  Does the state deduct the union dues to the screen actors guild? 

How much is a cheeseburger with fries in Hollywood?  $60.00?

 

How about a tax break for horse racing?  Couldn't we bring horse racing here?  It is a long ride to Kentucky. 

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