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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionLouisiana
Jurisdiction type: State
Fiscal year ending In2022
Program nameSound Recording Investor Tax Credit
Program purpose: Music, arts, or recreation
Statutory authority: LRS 47:6023
Abating jurisdiction(s): State of Louisiana
Applicable taxesIncome Tax
Method of abatement: Tax Credit
Provisions for recapture: If the funds for which an investor receives credits are not invested in and expended with respect to a state-certified production within a certain time period, then the investor's state income tax shall be increased by such amount necessary for the recapture of the credits. Credits previously granted to a taxpayer, but later disallowed, may be recovered by the secretary of the Department of Revenue by any collection remedy authorized by LRS 47:1561.
Gross revenue loss: $26,596
Reimbursement / offset: $0
Net revenue loss: $26,596
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.doa.la.gov/media/ofqdeujb/acfr-2022.pdf