Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part I - Taxes Collected and Administered by the Secretary of Revenue › Chapter 16 - Louisiana Entertainment Industry Tax Credit Programs › Subchapter A - Motion Picture Production Tax Credit Program › Section I-1607 - Certification Procedures

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				  Application and Expenditure Verification Report Fees
1. An application for initial certification
				  shall be submitted with an application fee of 0.5 percent of the estimated
				  total tax credits, with a minimum fee of $500, and a maximum fee of $15,000,
				  payable to the office, as required by
				  R.S.
				  36:104.
a.
				  All applications shall include information as required by
				  R.S.
				  47:6007(D)(2)(a).
b. In addition, the following program
				  specific information is required.
i.
				  Production:
(a). working title of the
				  production. Should the title change, the state-certified production needs to
				  inform the office as soon as that change is made;
(b). name of the requesting production
				  company;
(c). name, telephone
				  number, e-mail address and attesting signature of the requesting production
				  company's contact person;
(d).
				  approximate beginning and ending date of production in Louisiana;
(e). Louisiana office address;
(f). telephone number of requesting companys
				  Louisiana office address;
(g).
				  estimated total production-related costs of production;
(h). estimated total amount of
				  production-related costs to be expended in Louisiana;
(i). estimated total payroll to be paid by
				  the requesting production company to Louisiana residents employed by the
				  requesting production company in connection with the production;
(j). a preliminary budget including the
				  estimated Louisiana payroll and estimated in-state investment;
(k). a copy of script (including synopsis)
				  will be made available to OEID and subsequently returned to the
				  applicant;
(l). list of principal
				  creative elements such as principal cast, producer, and director; and
(m). facts sufficient for the office and the
				  department to determine each of the following:
(i). that the requesting production company
				  is a motion picture production company as defined in
				  R.S.
				  47:6007(B)(6);
(ii). that the requesting production company
				  is domiciled and headquartered in Louisiana; and
(iii). that the requesting production company
				  has either a viable multi market distribution plan or a signed distribution
				  agreement with either a major theatrical exhibitor, television network or cable
				  television programmer for distribution of the production.
ii. Infrastructure:
(a). working name of the infrastructure
				  project;
(b). name of the
				  requesting infrastructure company;
(c). name, telephone number, e-mail address
				  and attesting signature of the requesting infrastructure companys contact
				  person;
(d). approximate beginning
				  and ending date of construction in Louisiana;
(e). Louisiana office address;
(f). telephone number of requesting companys
				  Louisiana office address;
(g).
				  estimated total project-related costs or total costs associated with the
				  infrastructure project;
(h). a
				  preliminary operating budget including the estimated Louisiana payroll and
				  estimated in-stat e investment;
(i). a detailed business plan outlining the
				  exact proposed costs;
(j). total
				  number of jobs to be created by the infrastructure project.
c. Expenditure
				  Verification Report Fee. The department shall directly engage and assign a CPA
				  to prepare an expenditure verification report on an applicants cost report of
				  production or project expenditures. Applicants shall submit an advance deposit
				  at the time of application, and shall later be assessed the departments actual
				  cost based upon an hourly rate not to exceed $250, in the amounts set forth
				  below:
i. for applicants with project
				  expenditures greater than $50,000 but less than $300,000, an advance deposit of
				  $5,000, with a maximum fee of $10,000;
ii. for applicants with project expenditures
				  greater than $300,000 but less than $25,000,000, an advance deposit of $7,500,
				  with a maximum fee of $15,000;
iii.
				  for applicants with project expenditures greater than $25,000,000, an advance
				  deposit of $15,000, with a maximum fee of $25,000;
iv. if CPA actual costs exceed the advance
				  deposit, the applicant will be billed and LED will not issue any pending final
				  certification letter until receipt of any outstanding balance. Any unused
				  balance shall be refunded to the applicant within 60 days following receipt of
				  CPAs final invoice and payment of all CPA costs;
v. if at the time of application for initial
				  certification, the department is notified that post-production activities will
				  take place in Louisiana, and subsequently such activities are performed in
				  Louisiana, a supplemental request for certification of expenditures directly
				  relating to such post-production activity may be submitted. An advance deposit
				  fee of $7,500 shall be due at time of request for a supplemental verification
				  report, and applicant will again be liable for the actual costs subject to the
				  conditions set forth above.