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New York State Department of Taxation and Finance Claim for Empire State Film Production Credit Tax

New York State Department of Taxation and Finance Claim for Empire State Film Production Credit Tax 2026

New York State Department of Taxation and Finance Claim for Empire State Film Production Credit Tax Preview on Page 1

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The document is a form (IT-248) from the New York State Department of Taxation and Finance for claiming the Empire State Film Production Credit. It outlines the computation of the credit, including sections for individual taxpayers, partnerships, S corporations, and fiduciaries. The form requires information on tax credits available for specific tax years and instructions for filing with personal income tax returns.

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Click ‘Get Form’ to open it in the editor.
Begin with Part 1 — Computation of credit. Enter your name(s) as shown on your tax return and your taxpayer identification number at the top of the form.
For line 1, input the Empire State film production credit amount, ensuring you attach a copy of the certificate from the Governor’s Office for Motion Picture and Television Development.
Continue filling out lines 2 through 7 by following the instructions provided, adding any credits from prior years and calculating totals as needed.
Move to Part 2 to provide information about partnerships or S corporations. Enter the entity's name, type (P, S, or ET), and employer identification number.
In Part 3, list each beneficiary’s name and identifying number along with their share of credit.
Finally, complete Part 4 by indicating amounts of credit to be claimed in succeeding tax years for both 2011 and 2012.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How does a production tax credit work?

The PTC makes it cheaper to produce clean energy, with credits given based on the number of kilowatt hours produced. The credits are designed to incentivize producers to generate as much clean energy as possible, with projects that generate more than 1000 kilowatt hours receiving a greater credit.

Do you get tax credits on film production in New York?

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 2036.

Why am I getting a letter from the New York State Department of Taxation and Finance?

We may communicate with you by mail for many reasons, including: to send you a check for your refund or an additional payment; to let you know we adjusted your refund; to request information that supports what you reported on a return; and.

What is the commercial 45w tax credit?

Credit Amounts The amount of the credit is the lesser of: 15% of the vehicles cost to the purchaser or 30% for vehicles without internal combustion engines, or: The incremental cost of the vehicle. The credit is capped at $7,500 for vehicles less than 14,000 lbs and $40,000 for all other clean vehicles.

What is the NYS commercial production tax credit?

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 $7 million per year consists of two components for companies: producing commercials Downstate ($ 4 million) and producing Upstate ($3 million).

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What is the NY film incentive 2025?

Newly-signed 2025-2026 New York State budget transforms film TV production incentives, offering up to 30% tax credits and an $800M funding cap to compete with global markets.

Why would I get a check from the New York State Department of Taxation and Finance?

The one-time payment aims to provide financial relief from higher sales taxes due to inflation, according to the release. More than 8 million New Yorkers will receive refunds, according to the state. Payments will be mailed starting at the end of September. Eligibility is based on filing details from tax year 2023.

What is the New York State Commercial tax credit Program?

The New York State Commercial Tax Credit Program is designed to increase the production of commercial filming in New York State (NYS). 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.

New York State Department of Taxation and Finance Claim for Empire State Film Production Credit Tax 2026

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