New York Theatrical Production Tax Credit Extended Through October

New York State has extended the deadline for the New York City Musical and Theatrical Production Tax Credit, providing an additional five weeks for shows to qualify.

Empire State Development will now accept applications for productions with a first paid performance through October 20, 2025. The previous cutoff date was September 15.

The program subsidizes 25 percent of most production costs, with a maximum value of $3 million per Broadway show and $350,000 for Off-Broadway productions.

League President Jason Laks previously emphasized the importance of the program, saying in July that the credit “continues to be vital to the funding of Broadway productions.” Shubert Organization President Jeff Daniel, who has long spearheaded the League’s subsidy efforts, wrote to members today that the new date “ensures that all eligible applications can receive their expected credit” and noted that further extensions may be possible if funds remain available.

Created in 2021 to aid Broadway’s post-pandemic recovery, the tax credit has helped offset surging production costs and provided relief for shows that struggle to recoup.

The program is currently set to expire on September 30, 2027, but Laks has confirmed the League will continue to lobby Albany for ongoing support, including retroactive funding to cover all eligible productions this season.

Learn more about the Theatrical Tax Credit here.