New York State Film Tax Incentive Renewed But Trimmed; Many Lower-Budget NYC Independent Films No Longer Eligible

Filmmaker Magazine: The New York State film tax credit was reduced from 30% to 25% and qualification requirements made tougher in budget legislation signed last week by Governor Andrew Cuomo. Alarmingly for filmmakers shooting low-budget in New York City, new rules make pictures budgeted in the six figures ineligible for any New York tax credit at all.