January 19, 2014
AND THE OSCAR FOR BEST TAX BREAK GOES TO The Wolf Of Wall Street.
Although Oscar nominations were announced yesterday, one winner has already been determined: the Oscar for Best Tax Break (not a real Academy Award). Among the nine films nominated for Best Picture, The Wolf of Wall Street received the largest state tax incentive, a 30 percent tax credit from New York State. In effect, New York State taxpayers paid for a third of its $100 million in production costs.
I’ve written about these subsidies before.
What can I say, except: Repeal The Hollywood Tax Cuts!