Louisiana Secures the Future of its Film and TV Industry Amid Tax Reform

In a decisive move during a special session for tax reform, the Louisiana legislature passed House Bill 2 on November 22, 2024, preserving the state’s renowned film and television tax credit program. With overwhelming support—90-9 in the House and 38-1 in the Senate—the legislation now heads to Governor Jeff Landry’s desk for final approval. 

Louisiana, the pioneer of U.S. film and TV incentives since 2001, reaffirmed its commitment to the industry with a program offering 25% to 40% in tax credits for in-state production spend, and both resident and non-resident labor.

Despite a reduced annual cap of $125 million (down from $150 million), the incentive remains a cornerstone for productions seeking competitive subsidies, particularly as global jurisdictions increase their offerings.

As the entertainment industry rebounds from the strikes and streamers rework their strategies, Louisiana remains a beacon for producers seeking skilled crews, robust infrastructure, and incentives. With major players like Curtis “50 Cent” Jackson investing in local studios, the state is poised to remain a top destination for film and TV production. 

Key Highlights: 

• Louisiana’s film tax credit program supports 10,000 jobs with an average salary of $65,000, contributing $350 million in payroll for residents and $1 billion annually in economic activity. For every $1 in credits, $6.12 is generated in economic development.

• The House initially sought to eliminate the credit to offset proposed tax cuts. However, strong advocacy from industry leaders and local communities, especially in Shreveport, led to its reinstatement by the Senate with a reduced cap.

• A proposal to eliminate the refundability of tax credits was also withdrawn, ensuring continued attractiveness for out-of-state productions.

• The tax credit preservation is part of a broader reform package aimed at reducing corporate and personal income taxes to boost Louisiana’s overall competitiveness.

By securing its incentive program, Louisiana not only honors its legacy as a trailblazer but also ensures that the economic and cultural benefits of production will continue to enrich the state for years to come.