A recent audit commissioned by New York’s Department of Taxation and Finance indicates the state’s $700 million-a-year tax credit for film and television productions is failing to give taxpayers a return on their investment.
PFM Group Consulting was contracted to conduct an independent and comprehensive analysis of each of New York’s tax credits, deductions, and incentives, as required by state law. This included the Empire State Film Production Tax Credit program, which was established in 2004.
