Made in NY tax credit reaches limit
As of Tuesday, June 30, 2009, New York City’s "Made in NY" tax credit for qualified film and television production – the only one of its kind administered by a city in the US – has reached its full allocation of USD192.5 million and funds are no longer available for new applications.
The City proposed an extension of the programme in May and is awaiting passage of its legislation in Albany that will allow the credit programme to continue in a fiscally responsible manner. Pending legislative action, applications can still be sent in to the City. However, at this time, it is unclear whether new legislation will cover applications received during the interim.
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