Gov. Kathy Hochul proposed extending New York State’s film and television production tax credit by three years — through 2029 – in a budget she presented today.
The proposed executive budget plan for fiscal 2023 doesn’t elaborate on the credits – they show up as a line item in a section of chart called ‘Other Key Tax Cuts and Credits.’ Details are being worked on and there could be some new stipulations and requirements.
The program, which provides credits of $420 million per year for film and television productions, currently runs through 2026. It offers a 25% credit for qualified production and post-production costs incurred in-state, with additional credits of up to 10% on labor costs in dozens of counties outside of New York City’s five boroughs.
“We’re happy about this. It’s very positive and it is totally aligned with what we have been doing in the industry in terms of job creation and broader economic activity.
The proposed executive budget plan for fiscal 2023 doesn’t elaborate on the credits – they show up as a line item in a section of chart called ‘Other Key Tax Cuts and Credits.’ Details are being worked on and there could be some new stipulations and requirements.
The program, which provides credits of $420 million per year for film and television productions, currently runs through 2026. It offers a 25% credit for qualified production and post-production costs incurred in-state, with additional credits of up to 10% on labor costs in dozens of counties outside of New York City’s five boroughs.
“We’re happy about this. It’s very positive and it is totally aligned with what we have been doing in the industry in terms of job creation and broader economic activity.
- 1/19/2022
- by Jill Goldsmith
- Deadline Film + TV
Similar News
Valerie Bertinelli Reveals She Has a Special Someone
- 4/14/2024
- by Andrea Francese
- Showbiz Cheat Sheet
Sandra Lee Is Engaged; Is Andrew Cuomo Dating Anyone?
- 3/21/2024
- by Andrea Francese
- Showbiz Cheat Sheet
Family Guy Season 21 Episode 15 Adoptation Airs February 9 2024 on Freeform
- 2/2/2024
- by Jules Byrd
- TV Everyday
Stand-Up Comic Modi Rosenfeld To Unveil Debut Special ‘Know Your Audience’ In March
- 3/5/2024
- by Matt Grobar
- Deadline Film + TV
NYC Mayor Eric Adams Calls For Repeal Of Sanctuary City Policy For Undocumented Migrants
- 3/1/2024
- by Baila Eve Zisman
- Uinterview
Trump Name Removed From NYC Golf Course After 15 Years & Much Controversy
- 1/19/2024
- by Alessio Atria
- Uinterview
Why the New York Appeals Court Judges Reversed Harvey Weinstein’s Conviction
- 4/26/2024
- by Kevin Dolak
- The Hollywood Reporter - Movie News
The VMAs Will Celebrate Its 40th Anniversary in New York
- 4/24/2024
- by Jon Blistein
- Rollingstone.com
Republican Senators Demand Biden Use National Guard to Suppress Columbia Protests
- 4/22/2024
- by Nikki McCann Ramirez
- Rollingstone.com
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.
More to explore
Lily Gladstone and Bowen Yang to Star in ‘The Wedding Banquet’ Remake From Director Andrew Ahn (Exclusive)
- 4/25/2024
- by Marc Malkin
- Variety Film + TV
Jennifer Aniston to Produce ‘9 to 5’ Reimagining for 20th Century Studios
- 4/25/2024
- by Michaela Zee
- Variety Film + TV
New Harry Potter Audiobook Series in the Works With 100-Plus Actors
- 4/25/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
’28 Years Later’ Adds Aaron Taylor-Johnson, Jodie Comer and Ralph Fiennes
- 4/24/2024
- by Katcy Stephan
- Variety Film + TV
American Black Film Festival 2024 Lineup Includes Vivica A. Fox and Jussie Smollett-Starring Drama (Exclusive)
- 4/24/2024
- by Angelique Jackson
- Variety - Film News
Kid Cudi Cancels Tour Due to Broken Foot After Jumping Off Coachella Stage
- 4/25/2024
- by Lexy Perez and Christy Piña
- The Hollywood Reporter - Movie News
Maïwenn Feels ‘Betrayed’ by Interview About Johnny Depp, Clarifies Comment About Depp Scaring the Crew: He Is ‘One of the Greatest’ Actors (Exclusive)
- 4/25/2024
- by Zack Sharf
- Variety - Film News
“It was really curious”: Tom Hiddleston is Done Playing Loki But Recently Revealed a Peculiar Clause in His MCU Contract
- 4/25/2024
- by Laxmi Rajput
- FandomWire
Australian Police Arrest ‘Home and Away’ Actor Orpheus Pledger After Manhunt
- 4/25/2024
- by Patrick Frater
- Variety - TV News
’28 Years Later’ Adds Aaron Taylor-Johnson, Jodie Comer and Ralph Fiennes
- 4/24/2024
- by Katcy Stephan
- Variety Film + TV
Bella Ramsey, Louis Partridge, Ruby Stokes to Star in Coming-of-Age Comedy ‘Sunny Dancer’ From Rising Brit Director George Jaques (Exclusive)
- 4/25/2024
- by Alex Ritman
- Variety - Film News
Chris Jericho’s Wrestling Action Horror Film ‘Dark Match’ Sales to Be Launched at Cannes Market by Blue Finch (Exclusive)
- 4/25/2024
- by Naman Ramachandran
- Variety - Film News
Michael Cera Christmas Movie Boarded by Magnify Ahead of Cannes’ Directors Fortnight Premiere (Exclusive)
- 4/25/2024
- by Elsa Keslassy
- Variety - Film News
‘Expats’ Star Ruby Ruiz to Lead James J. Robinson’s Directorial Debut ‘First Light’ (Exclusive)
- 4/25/2024
- by Alex Ritman
- Variety - Film News
‘Goodbye Julia,’ ‘Four Daughters’ Lead Critics Awards for Arab Films Nominations Ahead of Cannes Ceremony
- 4/25/2024
- by Nick Vivarelli
- Variety - Film News
‘Crouching Tiger, Hidden Dragon’ Producer Bill Kong Aims to Reset Martial Arts Genre With ‘The Furious,’ Directed by Tanigaki Kenji (Exclusive)
- 4/25/2024
- by Patrick Frater
- Variety Film + TV
Bella Ramsey, Louis Partridge, Ruby Stokes to Star in Coming-of-Age Comedy ‘Sunny Dancer’ From Rising Brit Director George Jaques (Exclusive)
- 4/25/2024
- by Alex Ritman
- Variety - Film News
Fred Schepisi Sets Israeli Thriller ‘The Dimona Affair’ as Next Directorial Project (Exclusive)
- 4/25/2024
- by K.J. Yossman
- Variety - Film News
’28 Years Later’ Adds Aaron Taylor-Johnson, Jodie Comer and Ralph Fiennes
- 4/24/2024
- by Katcy Stephan
- Variety Film + TV
American Black Film Festival 2024 Lineup Includes Vivica A. Fox and Jussie Smollett-Starring Drama (Exclusive)
- 4/24/2024
- by Angelique Jackson
- Variety - Film News
Peabody Awards 2024: ‘Fellow Travelers,’ ‘The Last of Us,’ ‘The Bear,’ and More Are Nominated
- 4/25/2024
- by Samantha Bergeson
- Indiewire
‘The Equalizer’ Grabs Season 5 Renewal at CBS
- 4/25/2024
- by Rick Porter
- The Hollywood Reporter - Movie News
‘Beef,’ ‘A Small Light,’ ‘Heartstopper’ Among 2024 Television Academy Honors Recipients
- 4/25/2024
- by Michael Schneider
- Variety - TV News
Dan Rather Returning to CBS News For First Time Since Bitter Exit 18 Years Ago
- 4/25/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
‘Three Wise Men & a Baby’ Sequel Coming to Hallmark: Get the First Details
- 4/25/2024
- TV Insider