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January 24, 2012

EP Sponsored Women in Film (WIF) in Park City 2012

January 16, 2012

EP Incentive Solutions Update Available

January 13, 2012

EP Incentive Solutions Update Available

January 11, 2012

W-2 Hotline Now Active

December 8, 2011

Joseph Chianese Moderated 411 Publishing Webinar on Post Production Incentives

PRODUCTION INCENTIVES

RECENT UPDATES - August 10, 2010

NEW YORK

Governor Paterson signed the 2010-2011 Budget Bill (S8465/A11678, which amends S6610-C/A9710-D) amending the Empire State Film Production Credit.
Type of Incentive: Refundable film production credit (if the credit is ≥ $1 million, but < $5 million, it is payable in equal amounts over 2 years; if the credit is ≥ $5 million, the refund is payable over 3 years from the date it can be claimed); refundable post-production tax credit (payable over 2 years); there is also an investment tax credit for qualified film production facilities
Maximum Benefit: 30% of qualifying production local spend; 10% of the qualifying post-production spend; 4% to 5% of the eligible investment credit base
Compensation and Project Caps/Funding Per Year: $2.1 billion in funding for the 2010-2014 fiscal years ("pool 2" funds), or $420 million annually with up to $7 million annually allocated to the post-production credit; "qualified independent film production company" project maximum of $15 million
Project Criteria: For the production credit, a minimum 1 day and at least 10% of the total principal photography shooting days (except for "qualified independents" and pilots) must be spent at a qualified facility; in addition, the qualified production costs at a qualified facility must be ≥ 75% of such total facility costs (within and outside NYS); this test applies separately to production and post-production costs, if production costs at a qualified facility are < $3,000,000, then location shooting days in NYS (outside qualified production facility) must be ≥ 75% of total shooting days (within and outside NYS), OR in the case of "qualified independents" and pilots, at least 10% of the total principal photography shooting days must be spend at a qualified facility; the post-production credit is available if the qualified post production costs at a qualified post production facility are ≥ 75% of such total facility costs (within and outside NYS); the investment tax credit is available for tangible property containing at least one sound stage ≥ 7,000 square feet
Sunset/Review: December 31, 2015