MTV’s 'Jersey Shore' costs taxpayers $420K
I'm no fan of Jersey Shore but this is a silly headline because it is misleading...Why?
The tax credit that is "costing" New Jersey $420K was pre-approved by the New Jersey Motion Picture and TV Commission and is based on a percentage of money that was SPENT in New Jersey to pay for equipment, lodging, food, transportation, vendors, etc. IN New Jersey during the production.
New Jersey provides 20% transferable credit on qualified production expenses (however, the tax credit is currently suspended), so if the total refund was only $420,000, that means MTV spent $2.1 Million dollars in New Jersey (20% of 2.1 million = 420 000). $2.1M that went to the New Jersey's government, taxpayers and businesses, mainly.
Seems like the headline could easily be rewritten to read "Jersey Shore brings $2.1 Million... and Jobs, too!" But that doesn't stoke the flames as much.
No comments:
Post a Comment