ANNOUNCEMENT 24 Jul 2012

The bill expands upon a state program that has been in place since 2004, increasing the incentives for post-production in new regions of the state.

 

 

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 24 Jul 2012 | Removal date: open ended

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.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A
Inception date: 24 Jul 2012 | Removal date: open ended

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.

 
N/A