Counties want state to sweeten the tax film creditBy Julie Moran Alterio THE JOURNAL NEWS (Original publication: December 9, 2007) New York's tax breaks for making movies and TV shows in the state aren't keeping up with what the neighbors have to offer. That's the message that county lawmakers from the Lower Hudson Valley and elsewhere in the state are sending to Albany this week in a resolution calling for a review and overhaul of New York's tax-credit program for film and TV productions. The 15-member board of the New York State Association of Counties voted unanimously last week to put the film tax-credit program on its 2008 legislative agenda. "New York State has lost both jobs and revenue because of its antiquated, noncompetitive tax credit policy," the resolution stated. New York's 10 percent tax credit - plus an extra 5 percent in the five boroughs - can't compete with more generous incentives in adjacent states, said William Ryan, chairman of the Westchester Board of Legislators and a leading voice calling for an increase in the film tax credit. Since Connecticut enacted a 30 percent tax break in July 2006, film and TV production companies have spent more than $400 million in the state - up from just $1 million in the first six months of 2006. More than two dozen movies were filmed in Connecticut this year. Director Steven Spielberg and stars such as John Travolta and Leonardo DiCaprio spent parts of their summer in the Nutmeg State. |