5 CRR-NY 230.11NY-CRR
5 CRR-NY 230.11
5 CRR-NY 230.11
230.11 Quarterly report.
(a) The department shall file a report on a quarterly basis with the director of the Division of the Budget and the chairmen of the Assembly Ways and Means Committee and Senate Finance Committee. The report shall be filed within 15 days after the close of the calendar quarter. The report must contain the following information for the calendar quarter:
(1) the total dollar amount of certificates of tax credits issued during each month of the calendar quarter, broken down by month;
(2) the number of film projects which have been issued certificates of tax credits of less than $1 million per project and the total dollar amount of credits issued to those projects;
(3) the number of film projects which have been issued certificates of tax credits of $1 million or more but less than $5 million per project and the total dollar amount of credits issued to those projects;
(4) the number of film projects which have been issued certificates of tax credits of $5 million or more per project and the total dollar amount of credits issued to those projects;
(5) a list of each film project which has been issued a certificate of tax credit and for each of those projects:
(i) the number of employees associated with the post production project;
(ii) the qualified costs for the post production project;
(iii) the total expenditures on goods and services in New York State for the post production on the project;
(iv) the credit-eligible man hours for post production on each project; and
(v) the total wages for such credit-eligible man hours for post production on each project;
(6)
(i) the name of each taxpayer issued a certificate of tax credit for each project and the county of residence or incorporation of such taxpayer; or if the taxpayer does not reside or is not incorporated in New York, then the state of residence or incorporation; provided however, if the taxpayer claims a tax credit because the taxpayer is a member of a limited liability company, a partner in a partnership or a shareholder in a subchapter S corporation, the name of each limited liability company, partnership or subchapter S earning any of those tax credits must be included in the report instead of information about the taxpayer claiming the tax credit;
(ii) the amount of tax credit issued to each taxpayer; provided however, if the taxpayer claims a tax credit because the taxpayer is a member of a limited liability company, a partner in a partnership or a shareholder in a subchapter S corporation, the amount of tax credit earned by each entity must be included in the report instead of information about the taxpayer claiming the tax credit; and
(iii) information identifying the project associated with each taxpayer for which a tax credit was claimed under section 24 or section 31, as added by chapter 57 of the Laws of 2010, of the Tax Law, including the name of the film and county in which the project is located.
5 CRR-NY 230.11
Current through October 15, 2021
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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.