New York State Triples Post-Production Tax Credit To 30%

The credit could go as high as 35% for work done upstate — where officials are especially eager to promote economic development. Since the program began in 2004, the state has issued $1.04B in tax credits for projects with an estimated economic value of $7.57B.

Related: TV Production Takes Another Big Hit Says FilmL.A.

Here’s today’s release:

Governor Andrew M. Cuomo today signed legislation that will strengthen existing incentives offered by the state to attract additional film post-production activity to New York.

Since the state began offering tax credits to support the film and television industry in 2004, producers have spent more than $7 billion in New York. The new law signed today is designed to expand state support by specifically focusing on attracting post-production work to communities in all corners of the state. (more…)

This article was printed from https://deadline.com/2012/07/new-york-state-triples-post-production-tax-credit-to-30-307395/