La. Admin. Code tit. 61 § I-1615

Current through Register Vol. 50, No. 9, September 20, 2024

Section I-1615 - Louisiana Screenplay Credit

1. For state-certified productions initially certified on or after July 1, 2015, with expenditures occurring on or after July 1, 2015, a state-certified production company which demonstrates that it owned or optioned to own a Louisiana screenplay, which has been held by a qualified Louisiana production company for a minimum of 12 months prior to production, may be eligible for an additional 15 percent of base investment tax credit.

2.Louisiana Screenplay-

a. a screenplay created by a Louisiana resident; or

b. a screenplay purchased, optioned, licensed or otherwise acquired, from a Louisiana publisher:

i. in each case, as evidenced by documents such as certificate of authorship, a WGA registration certificate, the records of the United States Copyright Office, or a reasonable legal opinion issued to the office.

3.Qualified Louisiana Production Company (QLPC)-a motion picture production company, organized under Louisiana law, or otherwise domiciled and authorized to do business in Louisiana, having its principal place of business in Louisiana, which files Louisiana income tax returns and can also demonstrate:

a. the power and authority to make creative decisions with respect to a motion picture being produced by a state-certified production company, including but not limited to final cut authority; and

b. either of the following:

i. Louisiana ownership-must be able to prove that the company is 100 percent owned by a Louisiana resident or residents, who are natural persons who have been domiciled in and maintained a permanent place of abode in Louisiana for no less than 12 consecutive months prior to beginning of pre-production; or

ii. Louisiana employees-must be able to prove that the company has directly employed a minimum of 3 full-time Louisiana residents for a minimum of 12 months prior to beginning of pre-production.

4. LED shall post on its website a listing of approved Louisiana publishers and qualified Louisiana production companies.

B. If LED determines that an expenditure is a related party transaction, after review of CPAs verification report and any other supplemental support documentation, in addition to any other appropriate limitations or exclusions, such related party transactions shall not qualify for the additional 15 percent copyright credit.

C. LED shall not issue a final certification letter certifying any credits pursuant to the provisions of this section, until promulgation of a rule in the Louisiana Register, pursuant to the Administrative Procedure Act.

D. LED staff are available to assist interested parties in understanding the eligibility criteria and applying for this additional credit, and would suggest the following sequence of steps.

1. Interested motion picture production companies should apply to LED for approval as a QLPC.

2. Interested publishing house companies should apply to LED for approval as a Louisiana publisher

3. Following QLPC approval, QLPCs may apply to LED for project approval of state-certified productions as usual, applying either on their own behalf, or their associated project company may apply, but at time of application it must be able to demonstrate the relationship between QLPC and state certified production company applicant.

La. Admin. Code tit. 61, § I-1615

Promulgated by the Department of Economic Development, Office of Business Development and Office of Entertainment Industry Development, LR 37:515 (February 2011), Repealed by the Department of Economic Development, Office of Business Development, Office of Entertainment Industry Development, LR 4239 (1/1/2016), Promulgated by the Department of Economic Development, Office of Business Development, Office of Entertainment Industry Development, LR 43301 (2/1/2017).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6007