5 CRR-NY 230.6NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 5. DEPARTMENT OF ECONOMIC DEVELOPMENT
CHAPTER XXIII. EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM
PART 230. EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM
5 CRR-NY 230.6
5 CRR-NY 230.6
230.6 Criteria for evaluation of applications.
(a) Initial application.
An initial application shall be reviewed by the department to determine, in its discretion, that all of the following criteria are met:
(1) the application is complete;
(2) the application is not premature;
(3) the application has been submitted prior to the end of principal photography;
(4) the authorized applicant is a qualified film production company;
(5) the authorized applicant is planning to complete a qualified film;
(6) the authorized applicant’s projected qualified post production costs, excluding costs for visual effects and animation, paid or incurred which are attributable to the use of tangible property or the performance of services at a qualified post production facility in the production of a qualified film is projected to equal or exceed 75 percent of the projected total post production costs, excluding costs for visual effects and animation, paid or incurred in the post production of a qualified film at any post production facility; or the authorized applicant’s projected qualified post production costs for visual effects or animation at a qualified post production facility meet or exceed $3 million or 20 percent of the total post production costs for visual effects or animation paid or incurred in the post production of a qualified film at any post production facility, whichever is less;
(7) the authorized applicant did not knowingly submit false or misleading information to the department;
(8) the authorized applicant certifies that it will purchase taxable tangible property and services, defined as qualified post production costs, only from companies registered to collect and remit New York State and local sales and use taxes;
(9) the authorized applicant intends to comply with the end credit requirements set forth in section 230.2(h) of this Part.
(b) Final application.
A final application shall not be approved by the department unless the department determines, in its discretion, that the following criteria are met:
(1) the application is complete;
(2) a qualified film was produced and completed;
(3) the applicant’s qualified post production costs, excluding costs for visual effects and animation, paid or incurred which are attributable to the use of tangible property or the performance of services at a qualified post production facility in the production of a qualified film equaled or exceeded 75 percent of the total post production costs, excluding costs for visual effects and animation, paid or incurred in the post production of a qualified film at any post production facility; or the authorized applicant’s qualified post production costs for visual effects or animation at a qualified post production facility met or exceeded $3 million or 20 percent of the total post production costs for visual effects or animation paid or incurred in the post production of a qualified film at any post production facility, whichever was less;
(4) the applicant did not knowingly submit false or misleading information to the department;
(5) the applicant supplied documentation (e.g., still shot, frame grab, finished DVD or such other documentation such as the department may require) that the end credit requirements set forth in section 230.2(h) of this Part have been met.
5 CRR-NY 230.6
Current through October 15, 2021
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.