Louisiana legislative auditor says tax credits cost state billio - KPLC 7 News, Lake Charles, Louisiana

Louisiana legislative auditor says tax credits cost state billions

Movie productions like this one earned Louisiana the nickname, "Hollywood South." Movie productions like this one earned Louisiana the nickname, "Hollywood South."
BATON ROUGE, LA (WAFB) -

Louisiana's tax credit program made it Hollywood South, but the high cost to state coffers is putting it and other tax breaks in the public eye.

From the film production tax credits to credits for sugarcane transport, the state's 88 tax credit programs cost $5.4 billion in uncollected revenue over the last five years, according to a new report by the state legislative auditor.

"This is serious money and I think it's important for all of us in our legislature to understand that we do have these credits and we do have these rebates out there," Daryl Purpura, Louisiana legislative auditor.

Other economic leaders say the auditor's report only tells half the story. They argue it doesn't show how much money is pushed into local economies.

The legislative auditor said it's tough to track the program's return on investment.

Copyright 2013 WAFB. All rights reserved.

  • More Local NewsNewsMore>>

  • As federal taxes go down, Louisiana income taxes go up

    As federal taxes go down, Louisiana income taxes go up

    Monday, February 19 2018 10:10 PM EST2018-02-20 03:10:50 GMT
    (Source: Raycom Media)(Source: Raycom Media)

    It's no fun getting a pay raise only to have it eaten up by an increase in your bills, which is what's happening with federal tax reform in Louisiana. If you noticed a small increase in your pay check from federal tax reform, it may be fleeting as state taxes go up. The Louisiana constitution says if federal taxes go down, state taxes go up. But tax preparer Jessica Fisher, who is an area manager for Jackson Hewitt, says the offset should still leave you with a little somethin...

    More >>

    It's no fun getting a pay raise only to have it eaten up by an increase in your bills, which is what's happening with federal tax reform in Louisiana. If you noticed a small increase in your pay check from federal tax reform, it may be fleeting as state taxes go up. The Louisiana constitution says if federal taxes go down, state taxes go up. But tax preparer Jessica Fisher, who is an area manager for Jackson Hewitt, says the offset should still leave you with a little somethin...

    More >>
  • Possible threats to local high school being investigated

    Possible threats to local high school being investigated

    Monday, February 19 2018 9:43 PM EST2018-02-20 02:43:51 GMT
    (Source: KPLC)(Source: KPLC)

    Multiple agencies are investigating allegations of threats made against a local high school.  Threats were allegedly made against DeRidder High School by a juvenile, according to Deputy Chief Christopher Rudy with the DeRidder police department.  The juvenile was detained and a search warrant has been served. Deputy Chief Rudy says there is no immediate threat to the students or staff at DeRidder High School.  The DeRidder Police Department, Beauregard Parish Sheriff...

    More >>

    Multiple agencies are investigating allegations of threats made against a local high school.  Threats were allegedly made against DeRidder High School by a juvenile, according to Deputy Chief Christopher Rudy with the DeRidder police department.  The juvenile was detained and a search warrant has been served. Deputy Chief Rudy says there is no immediate threat to the students or staff at DeRidder High School.  The DeRidder Police Department, Beauregard Parish Sheriff...

    More >>
  • The Marshall Tucker Band to perform in Lake Charles

    The Marshall Tucker Band to perform in Lake Charles

    Monday, February 19 2018 9:28 PM EST2018-02-20 02:28:41 GMT

    The Marshall Tucker Band will perform in the Grand Event Center of Golden Nugget Lake Charles on Friday, May 25 at 8:30 PM according to a news release.   The group combined rock, rhythm, country, blues and jazz with extended instrumental passages to help establish the Southern rock genre in the 1970’s. Their hits include the singles “Can’t You See”, “Heard It In A Love Song”, and “Fire On The Mountain”. Tickets go on sale Fri...

    More >>

    The Marshall Tucker Band will perform in the Grand Event Center of Golden Nugget Lake Charles on Friday, May 25 at 8:30 PM according to a news release.   The group combined rock, rhythm, country, blues and jazz with extended instrumental passages to help establish the Southern rock genre in the 1970’s. Their hits include the singles “Can’t You See”, “Heard It In A Love Song”, and “Fire On The Mountain”. Tickets go on sale Fri...

    More >>
Powered by Frankly