Lights, Cam­era, Dol­lars

Bloomberg Businessweek (Europe) - - COMPANIES / INDUSTRIES -

New York state’s film and TV in­cen­tives show how govern­ments woo pro­duc­tion work.

Show me the money

A 30 per­cent tax credit ap­plies to all pro­duc­tion ex­pen­di­tures made in New York, in­clud­ing wages paid to ex­tras, plus pay for crew who aren’t ac­tors, di­rec­tors, pro­duc­ers, or writ­ers. A project gets an ex­tra 10 per­cent credit if film­ing is done in up­state coun­ties.

Putting in the time

At least 10 per­cent of prin­ci­pal pho­tog­ra­phy days must oc­cur on a New York sound­stage.

It’s never too late

Shows that are shot else­where but do post­pro­duc­tion in New York are el­i­gi­ble for as much as a 35 per­cent credit of the value of the work.

No taxes, no prob­lem

If the credit is larger than the taxes a pro­duc­tion owes, pro­duc­ers pocket the dif­fer­ence in cash.

The long­est pay­days

Cred­its of $1 mil­lion to $5 mil­lion are paid out over two years. Larger amounts are spread over three years.

Gimme cred

A show re­ceiv­ing in­cen­tives must in­clude a nod to New York’s film and TV devel­op­ment pro­gram in its cred­its.

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