Empire State musical and theatrical production credit
Who is eligible?
You are entitled to this refundable credit if you or your business:
- is a qualified musical and theatrical production company, and
- received a certificate of tax credit from Empire State Development (ESD). For more information about the program's application and approval process, visit Empire State Development: Empire State Musical and Theatrical Production Tax Credit Program.
How much is the credit?
The credit is 25% of the sum of qualified production expenditures and transportation expenditures.
ESD allocates the amount of credit allowed for the current tax year. ESD will issue a certificate of tax credit showing the amount of tax credit allowed and the allocation year of the tax credit.
- Form CT-642, Empire State Musical and Theatrical Production Credit, (for corporations)
- Form IT-642, Empire State Musical and Theatrical Production Credit, and its instructions (for all others)
To learn about other New York State tax credits available to businesses, see Business incentives.