NY TAX INCENTIVES

NYTAXCREDIT

Long Island’s Grumman Studios is a proud supporter of the Empire State Film Production Tax Credit Program.

Incentives at-a-glance

Production:
  • $420 million/year New York State film incentive program extended through 2019
  • 30% fully refundable credit on most below the line expenses
  • Increases credit to 40% on qualified labor for certain Upstate counties beginning in 2015
  • Eliminates 75% qualifying threshold on all eligible New York State post production costs
  • Relocated talk and variety television shows now eligible (with certain qualifications)
Post – Production:
  • 30% fully refundable credit on all post for films that don’t shoot in New York State
  • That credit increases to 35% if post is done outside the metro region
  • That credit increases AGAIN to 45% on labor for certain Upstate counties beginning in 2015
  • VFX and Animation qualifying threshold now lowered to 20% of total VFX or Animation budget OR a minimum spend of $3 million (whichever is lower)
  • Maintains qualifying threshold for rest of post at 75%
  • Increases funding from $7 million to $25 million per year beginning in 2015

To find out more about how your production can qualify please click the below link:

NYFILM

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