The Empire State Development (ESD) has announced that the New York City Musical and Theatrical Production Tax Credit has extended the deadline for applications. Broadway productions with a first paid performance (or preview performance) on or prior to Oct. 20 can apply for the program, which is colloquially known as the downstate tax credit.
The deadline for applications was previously announced as Sept. 15; the new date allows for a slew of upcoming fall productions to qualify.
Initially introduced in 2021 to help Broadway as it faced challenges in reopening productions post-pandemic, the program allows Broadway shows to apply for a tax credit, which, pending approval, can be used to reimburse 25 percent of qualified production expenditures of up to $3 million per Broadway production.
Since 2021, the program has extended each year. In May, Governor Kathy Hochul’s New York state budget for the fiscal year 2026 included an expansion of the credit through 2027, increasing the total monies available to $400 million. However, as Broadway News previously reported, the Broadway League learned in early summer that funds for the credit had been unexpectedly depleted.
ESD will continue to monitor the availability of funds.
Additional information regarding the New York City Musical and Theatrical Production Tax Credit, including how to apply, can be found here.
