New York City musical and theatrical production tax credit (Articles 9-A and 22)

Several amendments were made to the New York City musical and theatrical production tax credit.

The credit has been extended through tax year 2023.

The deadline for a qualified New York City musical and theatrical production to submit an application has been extended through June 30, 2023.

The overall dollar cap for the credit has been doubled from $100 million to $200 million.

The $3 million dollar cap per production has been extended to productions whose first performance is prior to January 1, 2023. For productions whose first performance is on or after January 1, 2023, the cap will decrease to $1.5 million.

The definition of the credit period of a qualified New York City musical and theatrical production company has been amended to change the date to reach its credit cap from March 31, 2023, to September 30, 2023.

For more information, see New York City musical and theatrical production tax credit .

[Part F of Chapter 59 of the Laws of 2022; Tax Law §§ 24-c, 210-B(57), and 606(mmm)]