The next application window for the NYS Independent Film Production Tax Credit Program will open on January 12, 2026, 10 AM EST through January 15, 2026, 4 PM EST for productions that will begin principal and ongoing photography within 180 days from the submission of the initial application.
A second application window will be opened from July 13, 2026, 10 AM EDT to July 16, 2026, 4 PM EDT for productions that will begin principal and ongoing photography within 180 days from the submission of the initial application.
About the Program
The New York State Independent Film Production Tax Credit Program offers eligible productions a tax credit equal to 30% of qualified production costs. Productions may also qualify for additional increases to this credit if they meet certain criteria, such as completing multiple productions within New York, employing a specific number of musicians, or filming in certain New York counties.
This tax credit initiative is supported by annual funding of $100 million per calendar year. In cases where a qualified production is not accepted into the Independent Film Tax Credit Program due to the lack of available funds, applicants have the option to apply for the regular NYS Film Production Tax Credit program instead.
Applications for the Independent Film Tax Credit are processed on a first-come, first-served basis during designated application windows. Therefore, it is crucial for applicants to have their Project Summary and all necessary application materials fully prepared in advance, to ensure their place in line when the window opens.
A significant advantage of the Independent Film program is the ability for productions to claim the tax credit in the year the production is completed. This shortens the timeline between submitting the final application materials and receiving the tax benefit.
To qualify, a production must satisfy the State’s definition of a “qualified film.” It must be independently owned and operated, and cannot be more than 50% owned by a publicly traded company. The production is required to commence both principal and ongoing photography within 180 days of submitting the application. Additionally, qualified costs—excluding labor—cannot exceed $60 million. Depending on the overall budget of the film, further requirements may apply regarding the location of filming, including the use of qualified production facilities within New York State.
Third Party CPA Review of Final Application
An applicant for the New York State Independent Film Production Tax Credit Program is required to obtain an Agreed Upon Procedures (AUP) report. This report must be prepared by a CPA firm that has been pre-qualified specifically for the program. The AUP process involves a thorough review of the final application, verification of eligibility criteria, and the testing and sampling of qualified production expenditures to ensure compliance with program requirements.
Withum is recognized as a pre-qualified CPA firm for the New York State Independent Film Production Tax Credit Program. It is strongly recommended that film productions engage a pre-qualified CPA as early as possible during the production process. Early engagement provides essential guidance regarding requirements and best practices, which can significantly streamline the Agreed Upon Procedures review at the conclusion of production.
Contact Us
For more information on this topic, reach out to Withum’s Theatre and Entertainment Services Team today.
