Tax Incentives
New York Post Tax Credit
New York state offers several programs to the film and television industry in the form of tax credits and sales tax exemptions. You can go to this NY state county map to see which counties qualify for which tax credit amount.
The New York 30% base credit is extended to 2034.
PNYA conducted an economic impact study to show how successful the post production and VFX tax credits have been for New York state. You can find more information and the full detailed report in either the economic impact study summary or the economic impact detailed study.
Empire State
Post Benefits
Post Production Credit
The Film Tax Credit Program provides incentives to qualified production companies that produce feature films, television series, relocated television series, television pilots, films for television, and/or incur post-production costs associated with the original creation of these productions. Program credits of $700 million per year can be allocated and used to encourage companies to produce film projects in New York and help create and maintain film industry jobs. Of the $700 million, there is a set-aside for the post-production credit of $45 million per year through 2036.
For information on the New York State Film Post Production credit, visit the NY state website.
How much is the credit?
The NY State Post Production credit is a fully refundable 30% tax credit (40% upstate) on qualified post production costs paid in the production of a qualified film at a qualified post production facility in New York State.
What is a "qualified film"?
The incentive applies to post production costs incurred in the creation of certain kinds of film and television projects in New York State. Eligible productions include:
Feature Films
Episodic television series
Television pilots and presentations
Television movies and miniseries
What is a qualified post production facility?
"Post production facility" means a building and/or complex of buildings and their improvements in which films are intended to be post produced.
"Qualified Post Production Facility" means a post production facility located in the state, engaged in finishing a qualified film.
What kind of costs qualify?
"Post Production Costs" means the production of original content for a qualified film employing traditional, emerging and new workflow techniques used in post-production for picture, sound and music editorial, re-recording and mixing, visual effects, graphic design, original scoring, animation, and musical composition; but shall not include the editing of previously produced content for a qualified film.
Post Production Costs qualify for the credit ONLY to the extent they are incurred for post production work actually done in New York State; work done by or contracted out to vendors, employees, service providers, or any parties located outside NY State is not qualified, and costs related to such work is not eligible for the tax credit.
Are there any project caps or other restrictions?
Who can apply?
You will be listed as an individual member with your selected titles. You can select which information is private and which can be viewed by other members.
VFX/Animation Credit
We highly recommend you file a Visual Effects Incentive Application, whether or not you are planning to do visual effects in NY or visual effects at all. In our experience, the plan for Visual Effects is always changing and new decisions are made at the very last minute. It doesn't cost anything to file for the Visual Effects Incentive and it shouldn't take more than 30 minutes of your time to complete.
For more information Visit New York Film Credit Guidelines
How much is the credit?
The VFX/Animation credit is a fully refundable credit of 30 percent of qualified VFX costs incurred in New York State (NYS).
An additional 5 percent credit is available for VFX/Animation costs incurred in Upstate NY, outside the Metropolitan Commuter Transportation District (MCTD). The MCTD includes New York City, Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk, and Westchester counties.
How do I qualify for the VFX/Animation credit?
Can I apply for the VFX/Animation credit and not the Post Production only credit or the Production credit?
Yes! The VFX/Animation credit is a stand-alone credit.
Can I apply for the Post Production only credit and the VFX/Animation credit in New York, and not the Production credit?
Yes!
Can I apply for the Production credit and the VFX/Animation credit?
No. You don't need to! When your production becomes eligible for the Production tax credit, any qualified post production or VFX work completed in NYS is automatically eligible for the Production tax credit.
If I am applying for the Post Production only credit, is VFX spend in NYS eligible for the Post only incentive?
No. The VFX/Animation incentive requires a 10% or $500,000 spend threshold to be eligible for the credit. It is a stand-alone credit and cannot be folded into the Post Only credit. Any part of VFX/Animation done in NYS is eligible for the Production credit. Not the Post Only.