Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part I - Taxes Collected and Administered by the Secretary of Revenue › Chapter 61 - Motion Picture Production Tax Credit Program › Section I-6107 - 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 company's
				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. Repealed.
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 CPA's 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.