Arizona lawmakers consider tax credits for filmmakers

For the third time, Arizona lawmakers have introduced legislation that would give a tax credit to multimedia productions who decide spend money in the state.

Lawmakers say they want the state to attract film crews and other productions that their neighboring states are capitalizing on. Supporters of the tax credit say it would attract jobs and generate revenue for Arizona.

Mike Kucharo, a filmmaker and president of Arizona Film & Media Coalition says, “The states surrounding us are taking work away from us, work we cannot get. As long as other states are doing it we have to do it or we’re just getting clobbered.”

The bill, which has been introduced for the third time, would give production companies a 20 percent tax credit if they spend at least $250,000 in the state. Companies that use private facilities would be eligible for an additional 5 percent credit.

Different states offer tax credits to businesses that bring work into their country. An Arizona tax attorney can inform a potential job creator of the tax incentives available in the state.

There are many people opposed to the proposal say that claims are overinflated and that it would cost the taxpayers.

“It’s a cost to the state we cannot afford,” according to Steve Voeller, president of the Arizona Free Enterprise Club, a lobbying group that supports low taxes.

Any business of individual that needs help understanding how taxes affect their business can retain a tax lawyer explain their effective rate and what tax credits they can take.

Along with helping people tax rates, an Arizona tax attorney can assist with criminal tax charges and help an indebted taxpayer with wage garnishment or negotiate a repayment plan with federal and state tax agencies.