This
program is entirely separate from the New York State Film Production tax
credit program (which includes post production), and applicants to that
program may NOT apply to both programs for the same project. For
information on the New York State Film Production credit, go to
http://www.nylovesfilm.com/tax/
Up
to $7 million per year for calendar years 2010-2014 inclusive is
available to the program.
How much is the credit?
For
productions incurring post production costs Downstate at a facility
within the
Metropolitan Commuter Transportation District*
(MCTD), the NY State Post
Production credit is now a fully refundable
30% tax credit on qualified
post production costs paid in the production of a qualified film at a
qualified post production facility in New York State.
For
productions shooting Upstate (i.e., outside the MCTD) the credit is
35% on qualified post production
costs.
The Metropolitan Commuter Transportation District
is defined in Section 1262 of the Public Authorities Law. The MCTD
includes the city of New York, and the counties of Dutchess, Nassau,
Orange, Putnam, Rockland, Suffolk and Westchester.
What is a “qualified film”?
The incentive applies to post production costs incurred in the creation
of certain kinds of film and television projects in New York State.
Eligible productions include:
-
Feature Films
-
Episodic television series
-
Television pilots and presentations
-
Television movies and miniseries
Certain categories of productions are excluded from the program,
including but not limited to documentaries, news or current affairs
programs, interview or talk shows, instructional videos, sport shows or
events, daytime soap operas, reality programs, commercials, music
videos.
What is a qualified post production facility?
“Post
production facility”
means a building and/or complex of buildings and their improvements in
which films are intended to be post produced.
“Qualified Post Production
Facility" means a post production facility located in the state,
engaged in finishing a qualified film.
What kind of costs qualify?
"Post Production Costs"
means production of original content for a qualified film employing
traditional, emerging and new workflow techniques used in
post-production for picture, sound and music editorial,
rerecording and mixing, visual effects, graphic design, original
scoring, animation, and musical composition; but shall not include the
editing of previously produced content for a qualified film.
Post
Production Costs qualify for the credit ONLY to the extent they are
incurred for post production work actually done in New York State; work
done by or contracted out to vendors, employees, service providers or
any parties located outside NY State is not qualified, and costs related
to such work is not eligible for the tax credit.
Are there any project caps or other restrictions?
No, there are no per project caps, and there is rollover in the annual
$7 million allocation going forward until 2014.
Who can apply?
“Qualified film production company”
means a corporation, partnership, limited partnership, or other entity
or individual which or who is principally engaged in the production of a
qualified film and controls the qualified film during production.
What are the program threshold requirements?
In
order to be eligible for the credit, the qualified post production costs
(as defined on Post Form B) incurred at a qualified post production
facility in NY State must meet or exceed 75% of the total post
production costs paid or incurred in the post production of the
qualified film at any post production facility anywhere.
When can I apply?
An
application can be filed NO SOONER than 60 days before the start of
principal photography on the qualified film, but NO LATER than the last
day of principal photography (or, in the case of a television series, no
later than the last day of principal photography on the first episode of
the series).
THIS IS A NEW YORK STATE PROGRAM.
PLEASE DIRECT QUESTIONS TO
THE NEW YORK STATE GOVERNOR’S OFFICE FOR
MOTION PICTURE AND TELEVISION DEVELOPMENT
212-803-2330.
