Fed Up in RI Saved R.I. Taxpayers $14.3 Million by actively participating in our own governance!

Curt - RIchoosesDE-featured-1

On the morning of May 21st, 2012, the day the Governor and members of the EDC were to meet with Curt Schilling of 38 Studios to vote on the possible issuance of $14.3 million motion picture tax credits, we emailed Governor Chafee and all members of the EDC the following email:
——– Original Message ——–
DATE: Mon, 21 May 2012 13:06:37 – 0400
From: INRI – G Garvin
To: governor@governor.ri.gov
Subject: 38 Studios, LLC may not be eligible for Motion Picture Production Tax Credits under RI General Laws
…”Due to the recent events surrounding the potential 38 Studios default, I have been doing some cursory research involving the eligibility of the company to apply for motion picture tax credits. If what I see is indeed correct, under RI law, they may be ineligible for these credits due to the company clearly being a Delaware registered operation, which is not in accordance with the existing tax credit law.”
“A summary of my basic legal research is below. I thought that it may be of interest, in light of the impending outcome of this very public situation that is of great importance to the integrity our State.”
“38 Studios, LLC is a Foreign Limited Liability Company organized under the laws of DELAWARE. All they possess is a “Certificate of Registration to transact business in the State of Rhode Island”. Filing #201067077710 Date: 09/10/2010 10:36 AM”
“Therefore, Under Rhode Island Gen. Law and the State of Rhode Island – Division of Taxation Regulations, 38 Studios, LLC does not meet the requirements to apply for R.I. ‘Motion Picture Production Tax Credits’. Because under R.I.G.L. they were not “formed under the laws of the state of Rhode Island”
*** Please see relevant sections of R.I.G.L. and R.I. Div. of Taxation Regulations below: TITLE 44 “Taxation” CHAPTER 44-31.2 Motion Picture Production Tax Credits SECTION 44-31.2-2
See: https://fedupinri.wordpress.com/?p=614&preview=true&preview_id=614

*Published Comments days later…
Victor Cortis
Thursday, 24 May 2012 21:03 GMT
(38 Studios environment artist on Project Copernicus)

“The million dollar payment 38 Studios made to Rhode Island was “in assurance” the firm would receive tax credits of $8 million.” “We even had buyers lined up for the credits and the government was sitting there telling us: ‘You give us the million, we give you the tax credits,” “We gave them the million. They did not give us the tax credits. The government flat out lied to us (big surprise).”
Read: http://www.vg247.com/2012/05/24/rumor-38-studios-has-shut-down-big-huge-games/

Richard Langseth
9:59 AM on 5/29/2012
“38 Studios bond document discussed need for Rhode Island incorporation as a “C Corporation.” That never happened. It remained a Delaware-based LLC. Rhode Island domicile needed for tax credits. Why does ProJo keep forgetting that basic fact which it reported on last week?”

Gloria Garvin
11:57 AM on 5/29/2012
“Because THEY (the media) didn’t uncover it…and actually ‘covered-up’ who really did!”
“The Media Cabal in this State is no different from the Political. That’s why nothing has changed in 100 years. Same corrupt political aristocracy running the show.”


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s