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In 1995, New York City enacted a new law under a subsection of the Commercial Rent Tax which offers theatrical productions in parts of Manhattan an exemption from rent tax for the first 52 weeks of production. The incentive applies to productions which use taxable facilities and are located on or south of the south side of 96th street in Manhattan. The 52 week period begins on the date that production of the theatrical work commences.
In 2005, the City adopted rules interpreting the statute to include dance plays among the theatrical works that qualify for the tax exemption and to further define when the production of a theatrical work begins. Under the new rules, productions which move from outside Manhattan or from a non-profit to a commercial theatre are entitled to start their 52 week clock afresh.
If you have questions about this incentive, contact the New York City Department of Finance via the “Contact Finance” facility on their website.
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