July 1, 2009 - As of Tuesday, June 30, 2009, New York City’s “Made in NY” tax credit for qualified film and television production – the only one of its kind administered by a city in the US – has reached its full allocation of $192.5 million and funds are no longer available for new applications. The City proposed an extension of the program in May and is awaiting passage of its legislation in Albany that will allow the credit program to continue in a fiscally responsible manner. Pending legislative action, applications can still be sent in to the City. However, at this time, it is unclear whether new legislation will cover applications received during the interim.
This news pertains only to New York City’s “Made in NY” tax credit. Please contact the New York State Governor’s Office for Motion Picture and Television Development at 212-803-2330 for information pertaining to its 30% New York State Film Production Credit.