Gov. Perdue is set to sign into law more central planning of our economy – this time ramping up more tax breaks for (among other things) television and movie studios filming in NC.
North Carolina was already in the business of granting tax breaks to such companies, this bill will expand the size of the credits that can be awarded (courtesy of NC taxpayers, of course).
According to the NC Dep’t of Revenue, North Carolina taxpayers have subsidized nearly $8 million in film credits in 2009, more than $22 million in 2008, and $10 million 2007.
The largest recipient of these tax credits is WB (Warner Brothers) Studio Enterprises, which was awarded about $11 million in tax credits over those three years. WB Studio Enterprises is a subsidiary of the mammoth Time Warner enterprise. WB (at least according to Wikipedia) had close to $12 billion in revenue in 2007.
But the rest of the state’s taxpayers are forced to pay one of the highest tax rates in the nation.
Have you seen this? Bev Perdue implicated in NCDOT scandal involving Durham developer, campaign contributions for kickbacks quid-pro-quo: (check out bottom of article)
http://www.heraldsun.com/view/full_story/8882978/article-751-South-on-course-to-rezoning
“The agency’s acceptance of the easements helped a development team that state records show contributed heavily to Perdue’s 2008 campaign for governor.
The businessman who assembled the site, Cree Inc. co-founder Neal Hunter, gave Perdue the maximum $4,000 allowed by law. So too did Hunter’s wife, Janet.
Southern Durham Development President Alex Mitchell gave another $4,000. Corporate Vice President Tyler Morris also gave $4,000. A Drewry Mitchell who listed the same Colvard Farms Road address as Alex Mitchell contributed a further $1,000.”
“DOT’s move also came while state Republicans continue to try to tie Perdue to the scandals that have ensnared her predecessor, former Gov. Mike Easley.”