New York

New York Film Tax Credit

Type of Incentive Tax credit; refundable; non-transferable.
Benefit Details 30% credit for qualified spend. Additional 5% for post-production costs incurred in upstate NY outside of NYC.

For productions under $15M and produced by an independent, the production must shoot at least one principal photography day at a Qualified Production Facility (QPF)

For productions over $15M or being produced by publically traded entity, the production must shot at least 10% of its principal photography days at a QPF.

Pilots are exempted from the 10% principal photography requirement, but must shoot a minimum of one day at a QPF and incur 75% of all costs at a QPF.

Once the above requirements are met, in order for costs outside the facility to be eligible, either, at least 75% of days shot on location outside the facility must be in NYS or the production must incur more than $3M at a QPF.

Beginning in 2015, budgets >$500K receive an additional 10% on qualified labor in certain counties.

Effective 1/1/15, any NY application can be filed with an AUP performed by a pre-certified accountant which allows the production company to accelerate the process.

Contact us for more details.

Project Cap None
Annual Cap $420,000,000 ($25,000,000 of which is reserved for post production credit)
Minimum Local Spend None; $500,000 for 10% qualified labor bump
Loan-Out Company Considerations None
Additional Exemptions Sales & Use Tax Relief Available
Qualified Production Expenditures Incurred in State; In-State Vendors; Out-of-State Vendors; Fringes Paid for Qualified Labor; Taxes Paid for Qualified Payroll.  Contact us for more details.
Qualified Labor Resident and Nonresidents; Below the Line.  Contact us for more details.
Sunset Date December 31, 2019
Film Commission NYS Governor’s Office for Motion Picture and Television Development
633 Third Avenue, 33rd Floor
New York, New York 10017

Gigi Semone, Executive Director
nyfilm@esd.ny.gov
212.803.2330

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NOTE: This content has been prepared by Kevin P. Martin & Associates, P.C. for informational purposes only and should not be construed as tax advice or relied on for specific projects. Though every effort has been made to remain current, laws and incentives change and, therefore, this information may have been revised. Please contact us to confirm any laws or the effect of incentives on your project.