Music Industry Pushes for New York Tax Credits Like Film Industry's
A state legislator is proposing tax credits for music production in New York similar to the credits that have been provided for film and television production.
Assemblyman Joe Lentol, a Brooklyn Democrat, is offering legislation to establish a 20 percent tax credit. The Legislature is scheduled to convene again in January. Lentol says the tax credit would be available to facets of the music industry ranging from production facilities and venues to songwriters and publishers.
It could apply to costs like production, artists' royalties, musician sessions fees, direct marketing and consultant fees paid to launch a recording. Lentol says Georgia, Tennessee and Louisiana have passed legislation to provide production tax credits and incentives.