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Saturday, March 23, 2013

New York Uses 'Jimmy Fallon Tax Credit' to Lure The Tonight Show From L.A.

Jay LenoNew York Daily News:  Tentative State Budget Includes ‘Jimmy Fallon’ Tax Credit to Lure ‘The Tonight Show’ Back to New York:

Call it the Jimmy Fallon tax credit.

Quietly tucked into tentative state budget is a provision that would help NBC move “The Tonight Show” back to New York, the Daily News has learned.

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.”

http://taxprof.typepad.com/taxprof_blog/2013/03/new-york.html

Celebrity Tax Lore, Tax | Permalink

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Comments

At least tax breaks that Southern states offer to car manufacturers result in hundreds of billions of dollars in capital investments and tens of billions in wages to "working families." But, isn't it so noble to help Hollywood (or New York TV execs, in this case) with more tax breaks?

Posted by: Woody | Mar 23, 2013 11:25:07 AM

What's the opposite of a bill of attainder?

Posted by: AMTbuff | Mar 23, 2013 8:50:16 PM

Why in the world do wealthy Democrats qualify for a tax break? According to Democrats, wealthy people and wealthy businesses earn enough money to "give back" to the "community". Or is that, *gasp*, what they've been telling us all these years is a lie?

Inquiring minds want to know.

Posted by: SteveAR | Mar 24, 2013 5:18:15 AM

Its New York. Stupid is endemic and Corruption is a byword.

Posted by: Rich K | Mar 24, 2013 1:14:16 PM