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The EITC is a federal, state, and New York City tax credit for qualifying families, noncustodial parents, and singles who work full time or part time or are self-employed. On average, most eligible New Yorkers receive $2,400 in combined EITC benefits. The combined credit can be worth up to $8,991.
Changes to the Film Tax Credit Program which are effective April 1, 2023 are as follows: Base tax credit rate has increased to 30%. Annual Allocation has increased to $700 million, of which $45 million is allocated to Post Production Tax Credit Program. Allocation for the program continues through 2034.
Film Production Credit Qualified costs include certain above-the-line salaries subject to specific caps, and most below-the-line items associated with production such as set construction, crew, camera equipment, grip equipment, props, etc.
Overview. Credits of up to $7 million per year can be allocated to encourage qualified production companies to produce commercials in NYS and help create and maintain jobs.
The real property tax credit may be available to New York State residents who have household gross incomes of $18,000 or less, and pay either real property taxes or rent for their residences. The amount of the credit for each household will vary depending on income and real property taxes paid (see table to the right).
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Additionally, the New York State Post Production Tax Credit provides 25% savings on qualified post-production expenses, for productions that do their post-production in New York City, but are not eligible for the film production tax credit program. Apply for these credits.
To encourage companies to post their film projects in New York and help create and maintain film industry jobs, productions which comply with requirements may be eligible for a fully refundable tax credit of 30% of qualified post-production expenses. This tax credit program is funded at $45 million a year through 2034.
If you earned income in 2022 from investments, such as rental property or stocks, the amount must be $10,300 or less to qualify for the EITC. If you have no children, you must be age 19 or older. If you are: Single, you must earn less than $16,480.

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