NEW YORK - EMPIRE STATE INDEPENDENT

NEW YORK

10% on qualified wages, salaries, and compensation for services performed in a designated upstate county for productions with a minimum spend of $500K. Click here to see county list.

Production Plus/Labor : Companies that submit at least two applications totaling $20M+ after Jan 1, 2025, are eligible for a 5% bonus on subsequent projects for qualifying independents.

Other Uplifts: 10% bonus for in-state scoring with 5+ musicians.

Qualified production costs are for tangible property or services used or performed within New York State directly and predominantly in the production of a qualified film.

10% on qualified production costs for services performed/property used in a designated upstate county if the majority of principal photography shooting days were in a qualified county and the production has a minimum spend of $500K. Click here to see county list.

Companies that submit at least two applications totaling $20M+ after Jan 1, 2025, are eligible for a 5% bonus on subsequent projects for qualifying independents.

Other Uplifts: +10% bonus for in-state scoring with 5+ musicians.

Applicants complete and submit the Project Summary Form online. All other documents which comprise a complete application are submitted through the secure file transfer system. Submission is highly recommended at least 10 business days before the start of principal photography.

Individual: Not Required

Loan-out: Not Required

• To qualify as a "qualified independent film production company," the entity company either cannot be a publicly traded entity, or if it is, no more than five percent of the beneficial ownership can be owned directly or indirectly by a publicly traded entity.
• Qualified ATL labor is limited to 40% of all other qualified NYS production costs.
• Changes to Credit Claim Timing - For applications submitted after Jan 1, 2025, credits may be claimed in full in the tax year that includes the last day of the allocation year (eliminating the 1-to-3-year payout) and streamlining prior multi-year claim schedules.
• Credit Recapture Provision Added - If a project is later found ineligible and the tax credit certificate is revoked, any claimed credit must be repaid in the year the revocation becomes final.
• New York has introduced a mandatory 0.5% contribution for a workforce development program which will be deducted from all tax credit certificates issued after Jan 1, 2023.
• For Animation, see the separate: New York - Postproduction credit.
• Relocating television series have specific eligibility requirements regarding prior production history, episode count, and budget.
• Applicants are required to submit a Diversity Plan outlining specific goals and strategies to hire a diverse workforce.