New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXIII - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Part 230 - EMPIRE STATE POST PRODUCTION TAX CREDIT PROGRAM › Section 230.11 - Quarterly report

Current through Register Vol. 46, No. 28, July 10, 2024
(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.