New York Tax Credits
Key Success Factors
Application
Applications must be received by April 1 each year.
Spend Requirements
$500,000 Downstate / $100,000 Upstate
CPA Audit Required?
No
Loan-Out:
Registration/
Withholding
Registration/
Withholding
Yes / Gross Receipts Tax (GRT) must be paid by loan out AND withholding at the maximum rate
Residency
Both residents and non residents qualify
Program Limits
Production Cap
None
Program Cap
$4,000,000 (Downstate), $3,000,000 (Upstate). Credits for both programs are issued on a pro-rata basis.
Payroll Cap
$500,000 per hire
Program Highlights
Tax Credit Type
Refundable
Tax Credit Amount
20% Downstate / 30% Upstate
Questions about the New York Motion Picture Tax Credits Program?
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The Official Handbook on U.S. Motion Picture Tax Credits for Advertisers & the Ad Industry