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Film Incentive

My comment is to chefnsurf, and to anyone else who has no clue as to how the film incentive program actually worked. The film incentives were a tax REBATE, based on the NC employer taxes paid by a film production. There was some minor amount of grant money given to independent film, but the big productions didn't get any of that. In order to recieve the tax credit, the film production had to first pay NC employer taxes. To put it in simple terms, I will give you $100 if you give me $25 back. You end up $75 richer. Apparently the NC politicians would rather the state receive no money from the film industry then to give back a portion of the employer taxes. The tax credit is based on employer taxes, and the loss of those taxes isn't all that great. The big loss in state revenue will come from the thousands of crew members and supporting industries whose employees live and work in NC. Film productions and employees impact every single business in Wilmington, from the fast food industry, to car rentals, hotels, retail, building supply companies, trash service, etc. The resident film crew pays property taxes and income tax and sales tax, just like every other resident. The loss of film production and thousands of local jobs will decrease the amount of taxes collected by local and state government. These are the same taxes that keep the roads repaired and fund our police departments and public schools. Without the film industry, someone has to pick up the loss of tax income. Don't be surprised when your tax bill goes up, and make sure to thank your politicians for it.

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