25-35%

25-35%

$1M budget (in NYC, Westchester, Rockland, Suffolk and Nassau); $250K budget (for the rest of the State; excluding pilots)

None

None

25% of qualified expenditures. Qualified expenditures include production and postproduction costs for tangible property or services used or performed within New York State directly and predominantly on a qualified production.

10% additional credit for BTL labor expenses incurred in certain counties in upstate New York.

$420M

December 31, 2022

Yes

No

No

Films with a production budget over $15M or being produced by a company in which more than 5% of the beneficial ownership is owned directly or indirectly by a publicly traded entity:

• At least 10% of the total principal photography shooting days must be at a qualified production facility (QPF) in New York State (pilots exempt)
   

Pilots must shoot a minimum of one day of principal photography day at a QPF, and at least 75% of the total of all expenses related to work (excluding post-production) done at all facilities utilized by the Pilot must be related to work done at the QPF.

Productions with budgets of $15M or less, produced by companies that are independently owned, must shoot at least one day of principal photography at a QPF.

If a non-qualified production facility (in NYS or out of State) is used by the Production Company, at least 75% of the total of all expenses related to work (excluding post-production) done at all facilities anywhere must be related to work done at the QPF.

If a production has met the 75% test for qualified production facility expenditures, it may also qualify for credit based upon qualified expenditures outside the qualified facility that are related to pre-production, location production and post-production if:

1. The production spends less than $3M on all costs related to work done at a qualified production facility, then a minimum of 75% of the principal photography days shot on location must be in New York State. This threshold requirement applies to location days only. Principal shoot days at a facility must not be included in the calculation of the 75%; OR
2. The production spends $3M or more on all expenses related to work done at a qualified production facility, then there is no 75% threshold for principal photography on location in NYS. All qualified expenditures related to pre-production, location production, and post-production in NYS are eligible for calculating the credit.

Application must be submitted before start of principal photography.

If the amount of the credit is $1M–$5M, the credit shall be claimed in equal installments over a two-year period. If the amount of the credit ≥ $5M, the credit shall be claimed in three equal installments, over a three-year period. 

New York has introduced a mandatory 0.25% contribution for a workforce development program which will be deducted from all tax credit certificates issued after Jan 1, 2020.

For Animation, see: New York - Post Production