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Thursday, March 26, 2009

Amendment X: Michigan Film Incentive

The Mackinac Center for Public Policy investigates whether the tax incentives that Michigan provides to film movies and televisions shows in state deliver on the amount of jobs created:
When movies are filmed in Michigan, the studios have to pay Michigan business taxes. Under this program though, state government will give filmmakers a refund check for up to 42 percent of the money they spend in Michigan. That means a movie company that spends $10 million in Michigan could get a check for more than $4 million. That’s even after the film companies pay their own taxes.

In effect, Michigan taxpayers will foot the bill every time the refund is more than the movie company’s taxes, and there’s no limit as to how large the refund could be. In return the state is supposed to get more jobs and revenue.
Click the link to see the Mackinac Center's video.

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