How Do Louisiana Film Tax Credits Work?
Film tax credits generated by the production of film and entertainment projects in Louisiana can be purchased by Louisiana taxpayers. These credits help offset a portion of your Louisiana tax liability on a dollar for dollar basis. Tax credits generated by a production company are typically offered to the public through a financial institution such as FBT Film & Entertainment.
Important – Tax credits must receive certification from the State of Louisiana to make
them legitimate to be used in the credit inventory. Never purchase tax credits from a broker
who cannot offer a state certification for the credits.
Once you have identified your Louisiana income tax liability, the taxpayer enters into an agreement to purchase the credits through a certified broker as well as a 6140. The broker typically submits the transfer documents to the Louisiana Department of Revenue (LDR), who then issues the Form 6135 back to the purchaser. This 6135 is the form the purchaser needs to utilize the tax credits (if they were issued on or after January, 2014).
Credits are different from deductions in that deductions reduce the amount of income that a taxpayer is taxed upon, while credits offset the taxes directly. The purchase price for tax credits fluctuates with the market. FBT Advisors will adjust the price periodically, and without notice, to take into account prevailing market conditions, size and inventories.
Purchase Louisiana Film Tax Credits & Historic Credits through FBT Film & Entertainment
FBT Film & Entertainment can help you secure the maximum amount of tax credits that you need as well as help decide what to do with all the extra money! As a leader in the film credit industry we ALWAYS have tax credits available. Please contact us today for rates and availability.
Please call for inventory and rates.