ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
On July 24, 2012 the governor of New York signed a bill that expands the existing incentives offered by the state to attract film post-production activity. The law increases the percentage of tax credits available for projects that did not film in New York but will qualify for credits for post-production work done in New York. Under the new law, the qualified film and television post production credit increases from 10 percent to 30 percent in the New York metropolitan commuter region, including New York City and Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk and Westchester counties. An additional five percent (for a total of 35 percent) in tax credits would be available for post-production expenditures in locations elsewhere in the state. The additional five percent in tax credits for upstate post production is designed to encourage investment in and construction of new facilities in Upstate New York. The new law took effect immediately.
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