MPAA Applauds New York State Extension of Film-TV Tax Credits

Labor News, Industry News

Photo: Buck Ennis; Governor Andrew Cuomo announced an uptick in post-production applications in New York.

Reprinted from Deadline Hollywood by  on April 10, 2017.

As you might imagine, the MPAA is happy Monday after New York state lawmakers including Governor Andrew Cuomo agreed over the weekend to include in their $153 billion budget a three-year extension of tax breaks for film and TV producers.

“This will ensure stability and predictability for television and motion picture producers that utilize one of the most successful incentive programs worldwide,” MPAA chief Chris Dodd said. “New York will continue to create thousands of jobs and add billions of dollars to the New York State economy as even more television series and feature film productions will locate in the Empire State.”
Launched in 2004 and extended by Cuomo in 2013, the $420 million-a-year program isn’t set to expire until 2019. But it needed additional funding to avoid running out of money later this year.

Producers can receive refundable credit of 30% on qualified production costs and post-production costs incurred in New York State — primarily outside of New York City. …

Deadline Hollywood 4/10

About Jeffrey Burman 1762 Articles
Jeff Burman represents assistant editors on the Guild’s Board of Directors. He can be reached at jeffrey.s.burman.57@gmail.com.

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