Mogul 50 Cent Shows Concern Over A Possible Vote To Eliminate A Crucial Tax Credit.

After just a few months of being open in Shreveport, 50 Cent's G-Unit Studios, which brought excitement all across the Ark-La-Tex region, now faces an uncertain future as the State of Louisiana has put a plan into motion that could eliminate a state tax that attracted film and TV productions to the state.

Louisiana Gov. Jeff Landry is pushing lawmakers to eliminate many tax breaks like the film credit to lower the state’s income tax rate on individuals and businesses.

Currently, the program provides production with up to a 40 percent tax credit on total in-state expenditures. Louisiana was one of the first states to offer the tax credit and now forty other states now offer similar tax breaks to the film industry based on the success of Louisiana’s program.

The Louisiana House of Representatives is expected to vote on the tax plan Wednesday (Nov. 13th). While there were earlier reports of the House voting to eliminate the tax incentives, state Rep. Steven Jackson of Shreveport clarified that the decision will be made Wednesday.

Why This Might Not Be Good For G-Unit Studios.

Those tax credits were one of the main reasons 50 Cent brought into Shreveport's "Millennium Studios" in 2023. After a successful "Humor & Harmony" weekend which brought thousands to the city, things were looking up for 50's investment.

But the mogul posted a news report from KTBS to his official Instagram page with the caption "this doesn't feel good but it could be great for louisiana, patience let's see how it plays out."

On one side, Film Louisiana President Jason Waggenspack told a House committee that eliminating the program would hurt the state’s billion-dollar film industry while he Landry administration has said that lowering income tax will bring more jobs to the state.

Like 50 said, "patience" may be needed.