Instructions for Form CT-654 New York City Musical and Theatrical Production Tax Credit - New York

Form CT-654 New York City Musical and Theatrical Production Tax Credit - New York

This document contains official instructions for Form CT-654 , New York City Musical and Theatrical Production Tax Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-654 is available for download through this link.

FAQ

Q: What is Form CT-654?
A: Form CT-654 is a tax form used to claim the New York City Musical and Theatrical Production Tax Credit.

Q: Who is eligible for the New York City Musical and Theatrical Production Tax Credit?
A: Eligible individuals or entities include producers of qualifying musical or theatrical productions in New York City that meet certain criteria.

Q: What are the requirements to claim the tax credit?
A: To claim the tax credit, the production must have incurred at least $50,000 in qualified production costs and meet other criteria outlined in the form instructions.

Q: How much is the tax credit?
A: The tax credit is equal to 30% of qualified production costs incurred in New York City.

Q: When is Form CT-654 due?
A: Form CT-654 is generally due within 60 days after the production's first public performance in New York City.