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New York State Launches $100M Tax Credit To Support Broadway Reopening

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A new $100 million tax credit to encourage and support the reopening of Broadway was launched today with an announcement by New York Gov.

Andrew Cuomo.“New York is not ‘New York’ without theater,” Cuomo said, in part, on today’s launch of the New York City Musical and Theatrical Production Tax Credit, a two-year program designed to support the entertainment and tourism industries in New York City by offsetting some of the costs associated with producing a show.Among the production costs covered by the program are sets, costumes, wardrobes, makeup, technical support, salaries, sound, lighting and staging.

Eligible companies can receive tax credits of 25% of qualified production expenditures, with first-year program applicants receiving up to

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