Minority Business – NYC Theatrical Production Tax Credit

NEW YORK CITY MUSICAL AND THEATRICAL PRODUCTION TAX CREDIT

New York State’s $100M Tax Credit is a 2-year program to boost the entertainment industry and tourism

  • The Program offsets costs for producing a show after the COVID-19 pandemic
  • Shows can receive tax credits of 25% of qualified production expenditures: 1st time shows during the first program year can receive up to $3M per production Productions must occur in a qualified production facility in New York City
  • Shows must implement a New York State-approved diversity and arts jobs training plan and increase access to productions for low-income residents.
  • Successful productions (revenues 2x production costs after tax credit) are required to contribute to the NYS Council for The Arts Cultural Program Fund, up to 50% of the tax credit.
  • Credits available for tax years from January 1, 2021 but before January 1, 2024.

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