Posted by JM Ashby
Like it or not, taxpayers of Alaska and the United States, you may be footing part of the bill for the TLC reality show Sarah Palin's Alaska. Thanks to a measure signed into law by the half-term quitter herself, films shot in Alaska qualify for a very generous subsidy.
"Sarah Palin's Alaska," the 8-part TLC reality show, is set to receive $1.2 million in tax credits, helping the program's producers recoup a third of the $3.6 million they spent filming in the Frontier State.
According to a measure, signed into law by then-Gov. Palin in 2008, crews filming in Alaska are eligible to receive subsidies for around 30 percent of their operating costs.
That's not all though. Most companies shooting in Alaska don't pay any taxes anyway, so the tax subsidies are usually sold to other companies.
The subsidies are in the form of transferable tax credits. Many of the companies claiming the tax credits do not have to pay much, if anything, in the form of Alaska taxes, so they sell the tax credits to companies. There have been reports the going rate is 80 to 90 cents on the dollar. Some have been sold the same day they were issued.
Smells like socialized corporate welfare to me! As a reminder -- Alaska receives more money back for taxes paid than any other state, meaning you and I, at least partially, are subsidizing The Adventures of Caribou Barbie.