End of tax credit in North Carolina could send filmmakers packing
By Marti Maguire
RALEIGH, N.C., Aug 15 (Reuters) - The looming end of tax
such as the Hunger Games and Sleepy Hollow to North Carolina has
supporters fearing Hollywood will take its bright lights to
states with more generous incentives.
State legislators were expected to finish their session on
Friday without renewing a tax credit for the film industry that
expires at the end of the year and was decried by critics as a
The state budget signed last week by Republican Governor Pat
McCrory instead allots $10 million for the first half of 2015
toward a grant program for the industry, a fraction of the more
than $60 million in tax credits received by production companies
Under the new program, the grant money will be shared among
productions, though how it will be allocated has not been
determined. Currently, film companies receive a 25 percent
refundable tax credit on qualified expenses, with a cap of $20
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