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NY Tax Credit Incentives


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#1 Andrew McCarrick

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Posted 29 May 2008 - 12:37 AM

I was looking over the New York City Film Office's Incentives page and they mentioned the 35% tax credit. Does anyone know how my company, not based in New York, would benefit from these tax credits? Could I sell them to a NY-based company?

It says it's a Refundable Tax credit... according to Entertainment Partners website, that means:

Refundable Tax Credits

These credits are refunds provided by the Tax Authorities once the Production Company has filed an income tax return. The refundable credit consists of excess production credits remaining after all income taxes are paid, and are received regardless of owing any income tax liability.


Does that mean I would have to file a income tax return in NY, even though my company is not based in New York?
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#2 timHealy

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Posted 29 May 2008 - 10:38 PM

You probably should address a question like this to your accountant. But I work out of my home state a lot and have to file non resident returns for each state along with my home state and federal returns. Is their a non resident version for businesses?

Best

Tim
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Aerial Filmworks

New Pro Video - New and Used Equipment

Rig Wheels Passport

CineTape

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The Slider

Ritter Battery

Metropolis Post

Technodolly

Abel Cine

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