According to the LA Times, the next foray into the Transformers Movie Universe will get a record $22 Million tax credit for shooting the movie entirely in California, USA. The money comes from what is being called a "state program aimed at curbing so-called runaway production."
Is it just me, or does it seem odd WE the people should foot the bill for productions that all the profit goes back to the studio? California is not alone, Michigan and other states have provided these incentive before. The idea being, these productions will bring jobs and income to the state.
The amount exceeds the roughly $18 million in credits approved in August 2016 for Walt Disney Studio’s “A Wrinkle in Time,” which also shot in California.
Filmmakers can recoup as much as 25% of their spending (up to the first $100 million) on crew salaries and other qualified costs, such as building sets. Studios can then use such credits to offset state tax liabilities they have in California.
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