Louisiana Supreme Court: Investor Gets Only Forty Percent Tax Credit On Film Project After January 1, 2010

The Louisiana Supreme Court has ruled that the Louisiana tax credit regime applies only to monies spent before January 1, 2010, not to money invested in the entire project, reversing a lower court decision. In a unanimous opinion in Red Stick Studio v. State of Louisiana, the Court examined both the language of the statute and its legislative history and decided that the investor was entitled to only 40 percent tax credit on the project. More here from the Baton Rouge Morning Advocate.