New York Film Incentive Program

Voluntary Third-Party Agreed Upon Procedeurs (AUP)

NY Film Tax Credits

Two years ago, the New York film incentive program, overseen by the Empire State Development Agency (ESD), adapted a policy of allowing applicants to have voluntary 3rd party agreed-upon procedures (AUP) completed in an effort to expedite the film production tax credit issuance process. And two years later, the results have been widely praised!  Those productions choosing to utilize the 3rd party AUP process have reported faster turnarounds than ever. KPM is proud to have been a significant part of that success having performed in excess of 50 of those AUPs, all while forming a great working relationship with ESD. This relationship is now being carried over into the Post-Production Tax Credit AUP which kicked off in July 2016 and which KPM is already heavily involved in.

Considering production in New York? Highlights for the NY film tax credit include:

  • 30% fully refundable credit on qualified production/post-production expenses
  • Post-Production Credit which allows films shot outside of NY to still receive tax credits on qualified post work done in NY
  • $420M in tax credits allocated per year until 2019
  • Qualified labor bumps up to 10% when filming in many counties outside of NYC
  • Simplified tracking of expenditures including set 60/40 vendor exceptions
  • Credits are based off of costs paid OR incurred

To learn more about New York’s requirements and the AUP process, contact a KPM specialist today.