NEW YORK FILM PRODUCTION TAX CREDIT
If you are producing a feature film, pilot, or a television series, you may be eligible for a fully refundable base line credit of 30 percent of qualified production costs incurred in New York State. Be Electric is a Qualified Production Facility (QPF), participating in the New York State Film Production Tax Credit Program. All of our soundstages are qualified for the tax credit, and we can discuss the process with you.
New York State Qualified Production Facility
Qualified Production Facilities (QPF) are facilities in the State of New York in which television shows and films are regularly produced, and which contain at least one sound stage of at least 7,000 square feet. Be Electric is a Qualified Production Facility which means productions shooting at any of our soundstages can qualify for up to a 30% tax credit.
Be Electric has eight soundstages to choose from of various sizes. All come with cycloramas, heavy industrial power, HVAC sufficient to heat and cool your shoot, and lighting grids. If your project is independently produced (or has a budget under $15 million), then you must shoot at least one full day of principal photography in a New York State Qualified Production Facility to qualify for the film tax credit. Any of our stages can help fulfill this requirement.
New York Film Production Tax Incentives
New York is an industry leader for production incentives. New York State allocates a massive $420 million annually to the incentive program, which includes $25 million for post-production. The program is designed to strengthen the film production industry in New York State and its positive impact on the State’s economy. The $420 million spent on film tax credits per year is associated with an estimated $23 billion in spending and 1.5 million new hires by film and production studios in NY since 2011.