Passing the NY Post Production Tax Credit

The New York post production tax credit was recently passed due to the strong involvement of the NY Post Alliance, which includes Brainstorm Digital.  The NY State Post Production credit is a fully refundable 10% tax credit on qualified post production costs paid in the production of a qualified film at a qualified post production facility in New York State.  The tax credit is designed to encourage the Hollywood film industry to take advantage of the extensive state of the art infrastructure and post production facilities available in New York.

The Post Production tax credit was the only newly introduced legislation to be passed by the New York State Assembly in 2010.  No easy feat in these fiscally challenged times.  The state saw this credit as a way to bolster an already established and highly regarded industry, one that was ready to immediately create additional jobs for the city and state.  It will most certainly turn out to be a win-win situation for the state, its residents and all New York businesses.

As a founding member, Brainstorm Digital played a key role in helping to create the New York Post Alliance.  The NY Post Alliance is an association of post production professionals and organizations working within film, television and interactive media creating content and entertainment properties in New York City and New York State.  Monthly meetings are held in which Brainstorm, along with a handful of other post production companies, bring ideas and suggestions to the table in order for this “alliance” to continue it’s groundbreaking work.  The fruits of the alliance’s work has already resulted in an unprecedented influx of work and jobs in the New York film industry.  Our hats off to all the founding members of the NY Post Alliance.