New York State Film Tax Incentive Renewed But Trimmed; Many Lower-Budget NYC Independent Films No Longer Eligible

The New York State film tax credit was reduced from 30% to 25% and qualification requirements made tougher in budget legislation signed last week by Governor Andrew Cuomo. Alarmingly for filmmakers shooting low-budget in New York City, new rules make pictures budgeted in the six figures ineligible for any New York tax credit at all. Projects that shoot a majority of their days in the five boroughs of New York City, Westchester, Rockland, Nassau, or Suffolk counties will be subject to a new minimum spend requirement of $1 million, and projects that shoot the majority of their days in any […]
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