* § 28. Empire state commercial production credit. (a) Allowance of\ncredit. (1) A taxpayer which is a qualified commercial production\ncompany, or which is a sole proprietor of a qualified commercial\nproduction company, and which is subject to tax under article nine-A or\ntwenty-two of this chapter, shall be allowed a credit against such tax,\npursuant to the provisions referenced in subdivision (c) of this\nsection, to be computed as provided in this section. Provided, however,\nto be eligible for such credit, at least seventy-five percent of the\nproduction costs (excluding post production costs) paid or incurred\ndirectly and predominantly in the actual filming or recording of the\nqualified commercial must be costs incurred in New York state. The tax\ncredit allowed pursuant to this section shall apply to taxable years\nbeginning before January first, two thousand twenty-nine.\n (2) The state has annually seven million dollars in total tax credits\nto disburse to all eligible commercial production companies. The seven\nmillion dollars in total tax credits shall be allocated according to\nsubparagraphs (i) and (ii) of this paragraph:\n (i) The state annually will disburse four million of the total seven\nmillion in tax credits to all eligible production companies who film or\nrecord qualified commercials within the metropolitan commuter\ntransportation district as defined in section twelve hundred sixty-two\nof the public authorities law. The amount of the credit shall be the\nproduct (or pro rata share of the product, in the case of a member of a\npartnership) of twenty percent of the qualified production costs paid or\nincurred in the production of a qualified commercial, provided that the\nqualified production costs paid or incurred are attributable to the use\nof tangible property or the performance of services within the state in\nthe production of such qualified commercial. To be eligible for said\ncredit the total qualified production costs of a qualified production\ncompany must be greater than five hundred thousand dollars in the\naggregate during the calendar year. Such credit will be applied to\nqualified production costs exceeding five hundred thousand dollars in a\ncalendar year.\n (ii) The state annually will disburse three million of the total seven\nmillion in tax credits to all eligible production companies who film or\nrecord a qualified commercial outside of the metropolitan commuter\ntransportation district as defined in section twelve hundred sixty-two\nof the public authorities law; provided, however, that if, after July\nthirty-first the state reviews all applications from eligible production\ncompanies who film or record a qualified commercial outside of the\nmetropolitan commuter district for a given year, tax credits remain\nunallocated under this subparagraph, those credits shall be allotted to\nthe credits set forth in subparagraph (i) of this paragraph for use\nconsistent with the purposes of such subparagraph. The amount of the\ncredit shall be the product (or pro rata share of the product, in the\ncase of a member of a partnership) of thirty percent of the qualified\nproduction costs paid or incurred in the production of a qualified\ncommercial, provided that the qualified production costs paid or\nincurred are attributable to the use of tangible property or the\nperformance of services within the state in the production of such\nqualified commercial. To be eligible for said credit the total qualified\nproduction costs of a qualified production company must be greater than\none hundred thousand dollars in the aggregate during the calendar year.\nSuch credit will be applied to all qualified production costs in a\ncalendar year.\n (3) No qualified production costs used by a taxpayer either as the\nbasis for the allowance of the credit provided for under this section or\nused in the calculation of the credit provided for under this section\nshall be used by such taxpayer to claim any other
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