Fraudulent Claims Cost Louisiana One Million Dollars
There has been a lot said in recent days about tax exemptions and tax credits. One of the largest beneficiaries of the Louisiana's tax credit program had been the entertainment industry. Now comes word from the Inspector General's office that a production company claimed over $1 million in fraudulent tax credits.
Horizon Entertainment and Productions produced the Sean Payton Show and the documentary Saintsational in 2011. According to the office of Inspector General Stephen Street the company's claim of over $1 million in tax credits was not on the up and up.
There were numerous expenses that were submitted to the state of Louisiana that were either inflated, undocumented, or in some cases never occurred at all.
According to Street's comments to the Louisiana Radio Network the company filed reports saying that over $2 million in wire transfers occurred in a single day. Those 236 different wire transfers, according to the Inspector General's report, only amounted to $39-thousand dollars. However since the transfer was repeated so many times the inflated number was submitted on the application for tax credit.
I liken that to taking money out of your right pocket, putting it in your left pocket, and then claiming to the state of Louisiana that you spent that money.
This company or any company having the ability to create a fabrication of actual spending shows just how desperately the film tax credit program
in the state needs to be reviewed and restructured.
The state has very little revenue and certainly not enough to go around to fund these basic services, and we can’t let in this case over a million dollars in tax credits were issued that never should have been issued.
Meanwhile officials with Horizon Entertainment and Production said they felt the company had not done anything wrong.