Posted on 07/11/2011 1:48:49 PM PDT by MichCapCon
The third live-action "Transformers" movie hit theaters this week and is sure to have a decent opening. Regardless of whether any Michigan resident chooses to watch it or not, as a taxpayer, they’ve already been forced to support it. That’s why Michigan residents should ask for a discount when purchasing their tickets.
Michigan offers qualified and approved film productions refundable tax credits based on how much they spend in the state to make the movie. Since the tax credit is refundable and has little to do with the company’s tax liability, it is effectively a subsidy check from the state treasury. According to the Michigan Film Office press release, "Transformers" received $6.1 million in refundable tax credits from the state.
While this is a simplistic analysis, counting each person’s share can be done just by dividing the total credit by the number of Michigan individual income tax returns. The state treasurer reports that there were 4.5 million individual income tax returns, making each taxpayer’s share $1.36.
(Excerpt) Read more at michigancapitolconfidential.com ...
Another gift from Canadian Jenny.
Of course she sprinted for Berkeley CA when she left office.
Michigan taxpayers... All 38 of them?
>>New Transformers Flick Costs Each Michigan Taxpayer $1.36<<
It was a class action suit? ;)
Taxpayers should not be forced to subsidize private businesses.
I’m certain the taxes collected in relation to the movie production far exceeds any subsidy. Since I don’t know the exact nature of the incentive I can’t say too much beyond that. It would make more sense to have it tied to the taxes paid but then again I’m more supportive of generic incentitives and tax breaks than specific industry breaks. Regardless the people who the studios pay pay taxes, and throughout the whole process taxes are paid so it is a bit misleading acting as though citizens deserve a cut as if the state is providing a check cut to fund some kind of worthless non profitable tax free film.
LOL!
GM is just too big to fail....
And according to the posted article there were 4.5 million tax returns in the state.
Sooooooo, assuming that all the returns paid some form of taxes, that means that less than half of the population of MI actually pays taxes.
This number does not count the citizens that file a return and pay NO taxes or get the EITC refund.
Interesting.
Perhaps some of Michigan’s citizens are children.
Did they charge the Optimus Prime Rate?
Did they charge the Optimus Prime Rate?lol!
How many hotel nights did the Transformers production book while filming there? How many restaurant meals? That is the point of those kind of credits, it’s a lure. Film crews are like any other travelers, they spend money while they’re in town, they spend money just being in town. And that spending gets taxed.
Attention, all the states tripping over each other to see who can give the most tax money to TV and movie producers: you’re getting ripped off, and in turn you’re stealing from your taxpayers.
Regardless of what they tell you, film crews bring their own labor — they aren’t going to hire and train your kid.
At most, a few temporary tourist industry jobs are created in local restaurants and motels. If you want to support them, you’d be better off just cutting them a check.
So why the tax money giveaway? Don’t be saps!
“I’m certain the taxes collected in relation to the movie production far exceeds any subsidy.”
There are several reliable studies which show exactly the opposite.
It’s EXACTLY like sports team owners suckering cities into building stadiums for them because “a pro sports team and stadium brings so much money into the community.” We all know now that it simply doesn’t work out that way.
It’s certainly not the theater’s fault that the production company receives an incentive, or even the film producer’s fault for taking advantage of credits authorized by state law. This policy is nonetheless unfair to taxpayers whose own expenses are not looked upon so favorably by Lansing. Asking for a $1.36 discount at the ticket counter ought to be the least Michigan movie watchers should do. Another option is to make it clear to state legislators that the Michigan Film Incentive should be eliminated.
http://www.michigancapitolconfidential.com/15347
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