New York State Film Tax Incentive Trimmed; Many Lower-Budget Independent Films Will No Longer Be Eligible

Published on Apr 10, 2020

The New York State film tax credit was reduced from 30% to 25% and qualification requirements made tougher in budget legislation signed last week by Governor Andrew Cuomo. Alarmingly for lower-budget independent films, new rules make films budgeted in the six figures ineligible for any New York tax credit at all. Features that shoot a majority of their days in the five boroughs of New York City, Westchester, Rockland, Nassau, or Suffolk counties will be subject to a new minimum spend requirement of $1 million, and features that shoot the majority of their days in any other New York county […]

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Author: Scott Macaulay