North Carolina ups tax credit

North Carolina is the latest locale to sweeten its tax credit for Hollywood studios, from 15% to 25% of qualified spending on a project.

The move aims to restore North Carolina’s competitiveness in attracting major studio shoots against neighboring Georgia and South Carolina, which offer incentives up to 30%.

Michigan has the highest U.S. tax credit at 42%, and Louisiana politicians are set to vote on raising that state’s incentive from 25% to 30%.

The U.S. tax-credit hikes impact the Canadian industry as Los Angeles producers increasingly move projects on a dime in search of the best tax breaks, whatever the local access to crews, equipment and soundstages.

Walt Disney in May shifted the latest movie from its Hannah Montana franchise, which stars Miley Cyrus, to Georgia.

Also this week, continuing political turmoil in the New York State legislature further delayed efforts to extend that state’s film and TV tax credit, albeit at a reduced rate, before a summer break. Earlier this week, Quebec upped its tax break to 25% off all expenses.