Commentary: Economic swoon jeopardizes production credits

November 12, 2008 The credit crunch and the crumbling economy has put the nation's many film tax incentives under the microscope as states debate their overall effectiveness. At the locations panel Saturday at the American Film Market, the question of how long states can maintain the present course of tax rebates and credits in the face of mounting job losses and bleeding state budgets took center stage. A refundable tax credit, instituted in such states as Michigan and New Mexico, acts more like a rebate and sees states issue a check to production companies.

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