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New York Tax Law Section 24 - Empire State Film Production Credit.Legal Research Home > New York Lawyer > Tax > New York Tax Law Section 24 - Empire State Film Production Credit. Sponsored Links
* § 24. Empire state film production credit. (a) ** (1) Allowance of
credit. A taxpayer which is a qualified film production company, or
which is a sole proprietor of a qualified film production company, or
which is a member of a partnership which is a qualified film production
company, and which is subject to tax under articles nine-A or twenty-two
of this chapter, shall be allowed a credit against such tax, pursuant to
the provisions referenced in subdivision (c) of this section, to be
computed as hereinafter provided.
** NB Effective until August 20, 2008
** (1) Allowance of credit. A taxpayer which is a qualified film
production company, or which is a sole proprietor of a qualified film
production company, and which is subject to tax under articles nine-A or
twenty-two of this chapter, shall be allowed a credit against such tax,
pursuant to the provisions referenced in subdivision (c) of this
section, to be computed as hereinafter provided.
** NB Effective and Repealed August 20, 2008
(2) The amount of the credit shall be the product (or pro rata share
of the product, in the case of a member of a partnership) of ten percent
and the qualified production costs paid or incurred in the production of
a qualified film, provided that the qualified production costs
(excluding post production costs) paid or incurred which are
attributable to the use of tangible property or the performance of
services at a qualified film production facility in the production of
such qualified film equal or exceed seventy-five percent of the
production costs (excluding post production costs) paid or incurred
which are attributable to the use of tangible property or the
performance of services at any film production facility within and
without the state in the production of such qualified film. However, if
the qualified production costs (excluding post production costs) which
are attributable to the use of tangible property or the performance of
services at a qualified film production facility in the production of
such qualified film is less than three million dollars, then the portion
of the qualified productions costs attributable to the use of tangible
property or the performance of services in the production of such
qualified film outside of a qualified film production facility shall be
allowed only if the shooting days spent in New York outside of a film
production facility in the production of such qualified film equal or
exceed seventy-five percent of the total shooting days spent within and
without New York outside of a film production facility in the production
of such qualified film. The credit shall be allowed for the taxable year
in which the production of such qualified film is completed.
(3) No qualified production costs used by a taxpayer either as the
basis for the allowance of the credit provided for under this section or
used in the calculation of the credit provided for under this section
shall be used by such taxpayer to claim any other credit allowed
pursuant to this chapter.
(b) Definitions. As used in this section, the following terms shall
have the following meanings:
(1) "Qualified production costs" means production costs only to the
extent such costs are attributable to the use of tangible property or
the performance of services within the state directly and predominantly
in the production (including pre-production and post production) of a
qualified film.
(2) "Production costs" means any costs for tangible property used and
services performed directly and predominantly in the production
(including pre-production and post production) of a qualified film.
"Production costs" shall not include (i) costs for a story, script or
scenario to be used for a qualified film and (ii) wages or salaries or
other compensation for writers, directors, including music directors,
producers and performers (other than background actors with no scripted
lines). "Production costs" generally include technical and crew
production costs, such as expenditures for film production facilities,
or any part thereof, props, makeup, wardrobe, film processing, camera,
sound recording, set construction, lighting, shooting, editing and
meals.
(3) "Qualified film" means a feature-length film, television film,
television pilot and/or each episode of a television series, regardless
of the medium by means of which the film, pilot or episode is created or
conveyed. "Qualified film" shall not include (i) a documentary film,
news or current affairs program, interview or talk program, "how-to"
(i.e., instructional) film or program, film or program consisting
primarily of stock footage, sporting event or sporting program, game
show, award ceremony, film or program intended primarily for industrial,
corporate or institutional end-users, fundraising film or program,
daytime drama (i.e., daytime "soap opera"), commercials, music videos or
"reality" program, or (ii) a production for which records are required
under section 2257 of title 18, United States code, to be maintained
with respect to any performer in such production (reporting of books,
films, etc. with respect to sexually explicit conduct).
(4) "Film production facility" shall mean a building and/or complex of
buildings and their improvements and associated back-lot facilities in
which films are or are intended to be regularly produced and which
contain at least one sound stage.
(5) "Qualified film production facility" shall mean a film production
facility in the state, which contains at least one sound stage having a
minimum of seven thousand square feet of contiguous production space.
(6) "Qualified film production company" is 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.
(c) Cross-references. For application of the credit provided for in
this section, see the following provisions of this chapter:
(1) article 9-A: section 210: subdivision 36.
(2) article 22: section 606: subsection (gg).
* NB Repealed August 20, 2008
Last modified: September 7, 2006 |