January 10, 2019
We have long opposed the Massachusetts Film Tax Credit. Two years ago we noted that in 2014, Hollywood took us for $64.5 million. In 2015, the cost in revenue was $72.5 million. The numbers are out for 2016 and we lost $88.8 million in revenue that year.
Giving money to Hollywood is bad enough. Due to the industry's creative accounting, most films never make a profit on paper. As a result, the film tax credits are never used to pay taxes accrued on the films. Instead, many of them are sold o...