Bloomberg Businessweek (Europe)
Lights, Camera, Dollars
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.