Many people are beginning to wrap their minds around the House Republicans’ proposed destination-based cash-flow tax and what it means for tax reform. Most people are still looking into the tax’s impacts on trade and how...
- The Tax Policy Blog
- New York Budget Includes Tax Subsidy to "The Tonight...
New York Budget Includes Tax Subsidy to "The Tonight Show"
NBC may be a successful, profitable company but that's not stopping New York legislators from offering them taxpayer subsidies to lure The Tonight Show back to 30 Rockefeller Plaza from California. NBC is rumored to be replacing Jay Leno as host of the late night mainstay with comic Jimmy Fallon.
The provision would make state tax credits available for the producers of “a talk or variety program that filmed at least five seasons outside the state prior to its first relocated season in New York,” budget documents show.
In addition, the episodes “must be filmed before a studio audience” of at least 200 people. And the program must have an annual production budget of at least $30 million or incur at least $10 million a year in capital expenses.
In other words, a program exactly like “The Tonight Show.”
Aides to Gov. Andrew Cuomo (D) denied to the Daily News that the provision was written with The Tonight Show in mind.
Altogether, New York provides $420 million in tax subsidies each year for the film and television industry, one of the highest levels of taxpayer support in the country.
Get Email Updates from the Tax Foundation
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.
Recent Blog Posts
Related State Articles
- Lunch Links: Growing Nature of Marijuana Taxes; Meeting of the Minds between EU and Ireland; Out of His Role as Trump, Alec Baldwin in Some Tax Trouble
- Lunch Links: Handy Tax Calculator Before Casting Your Presidential Ballot; New York, not Nevada, Could Haul in Biggest Casino Taxes; EU Nations Debate Tax Haven Definition
- Lunch Links: Raising Gas Taxes A 'Non-Issue' for Incumbents in Iowa Legislative Races; High-Income Earner Taxes on Ballot in California and Maine; Corporate Tax Breaks for Housing, Development Projects Cost NYC $3 Billion
- 1 of 74
- next ›