NY Assembly backs tax credits for music production
ALBANY — The state Assembly has backed tax credits for music production in New York similar to those provided for film and television, intended to halt an exodus of musicians and producers to other states.
Assemblymember Joe Lentol (D-Brooklyn), who introduced the bill, says credits up to 35 percent, capped the first year at $25 million, would help keep New York jobs, especially in Brooklyn.
He says places like Los Angeles, Toronto and Nashville are drawing the business away with incentives.