Alternate NYC Production Tax Credit Proposed

Jun 8, 2009  •  Post A Comment

The TV and film industry has put forward an alternate proposal for the extension of New York City’s production tax credits, says The Hollywood Reporter, just two weeks before the New York State legislature heads out for summer vacation.

The proposal would extend the tax credits at the current rate of 5% through 2013; the city had previously proposed the credits be cut to 4%, diminishing further for TV shows in each year of production starting with the fourth year.

The industry’s proposal includes caps on the annual payouts and would delay payouts for big productions, while speeding them to smaller projects.

—Elizabeth Jensen

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