Post by The Ultimate Nullifier on Apr 26, 2014 8:24:55 GMT -6
WWE claimed nearly half-a-million dollars in state tax credits for filming TV in North Carolina in 2010 and 2011. However, the credit could go away after the next legislative session.
One of the bills up for discussion when N.C. lawmakers resume on May 14 is a potential reduction of the state's incentive program. Pro wrestling, reality TV, and late-night TV shows are on the chopping block.
WWE says they would still continue to bring TV tapings to North Carolina if the bill eliminated WWE's tax credit, according to the News-Observer.
“WWE applies for applicable film and tax credits offered by any state where we do business just like many other production companies do,” WWE spokesperson Tars Carraro told the newspaper.
Internal records show that WWE claimed $570,000 in tax credits in 2010 and 2011. Exact figures were not reported on the taxpayer's burden, but one of the reasons why the proposal was made is because of the incentive program's heavy cost to taxpayers.
The benefit is creating jobs, even temporarily, for regularly-scheduled TV shoots or big, one-off productions like WWE.
Legislators will weight the costs and benefits of including pro wrestling in the incentive program when talks resume in May.
One of the bills up for discussion when N.C. lawmakers resume on May 14 is a potential reduction of the state's incentive program. Pro wrestling, reality TV, and late-night TV shows are on the chopping block.
WWE says they would still continue to bring TV tapings to North Carolina if the bill eliminated WWE's tax credit, according to the News-Observer.
“WWE applies for applicable film and tax credits offered by any state where we do business just like many other production companies do,” WWE spokesperson Tars Carraro told the newspaper.
Internal records show that WWE claimed $570,000 in tax credits in 2010 and 2011. Exact figures were not reported on the taxpayer's burden, but one of the reasons why the proposal was made is because of the incentive program's heavy cost to taxpayers.
The benefit is creating jobs, even temporarily, for regularly-scheduled TV shoots or big, one-off productions like WWE.
Legislators will weight the costs and benefits of including pro wrestling in the incentive program when talks resume in May.