Cliffhanger: Tax breaks for NY films still remain a mystery

[hrmjustin]

Joseph Spector

A state law in 2013 required the state to disclose the tax breaks that new films and television shows get when they shoot in New York.

But the details surrounding the $420 million-a-year program remain a mystery, Gannett’s Albany Bureau reported today.

The state says that no final applications have been approved since the law went into effect April 1, 2013, and thus no details are available on how much each production is getting in taxpayer-funded subsidies to film in the state.

The Empire State Development Corp., which oversees the film-tax-credit program, said it could take years for a film to file all the paper necessary to receive up to 30 percent back from the state for production costs.

http://polhudson.lohudblogs.com/2014/07/10/cliffhanger-tax-breaks-ny-films-still-remain-mystery/