New York Lawmakers Pass Tax Credit to Boost Music Production in State
According to Billboard, The Empire State Music Production Tax Credit passed in both the Assembly and Senate on Thursday in Albany. Many pundits feel it will boost the amount of music production jobs across New York State. Once it is signed into law, the bill would provide a 25 percent tax credit for eligible production costs in NYC, and a 35 percent break for upstate music businesses.
To be eligible, the costs must be related to job creation, rental fees, session fees for musicians/engineers, etc., mixing and mastering services, transportation, or for music video production.