Yes, on November 4th of 2016, New York State Governor Andrew Cuomo signed Chapter 420 of the Laws of 2016 which expanded the New York State Film Tax Credit Program (hereinafter the “NYSFTCP”) for qualified production companies that produce feature films; television series; relocated television series; television pilots; television movies; and/or incur post-production costs associated with the original creation of these aforementioned film productions.

More specifically, this new legislation affords an additional 10% tax credit under the NYSFTCP on labor costs above $500,000 for eligible film productions to include an additional twelve counties outside of the New York Metropolitan Commuter Transportation District (hereinafter “MCTD”) including, but is not limited to, Orange County, Ulster County, and Sullivan County. It should be duly recalled that the MCTD includes, but is not limited to, New York City, Rockland County, and Westchester County.

For additional coverage of this new legislation, please access my published article on TaxConnections at www.taxconnections.com/taxblog/lights-camera-action-and-tax-cut-a-spotlight-on-the-expansion-of-the-nys-film-tax-credit-program/#.WD9G7LIrKos