Trend: Music Production Tax Credit

Which state Legislature is moving a new music production tax credit? New York

The tax credit’s details:

• 25% tax break for eligible music-production-related costs downstate
• 35% tax credit for upstate music production
• 75% of the project must be made in New York
• Funded with $25 Million per year

What costs are included in the Tax Credit calculation?

• below-the-line fees like:
  • studio rental fees
  • mixing
  • session-musician salaries
  • engineering and mastering services

Why did New York revisit a music production tax credit?

• New York lost the Grammy’s to Los Angeles
• 50% reduction in New York based music production since 1999

Crain’s New York Business | State legislature passes music production tax credit