Form Tsb-M-06(3)c - Supplemental Summary Of Corporation Tax Legislative Changes Enacted In 2005 - Office Of Tax Policy Analysis Technical Services Division
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6New York State Department of Taxation and Finance
TSB-M-06(3)C
Office of Tax Policy Analysis
Corporation Tax
Technical Services Division
April 19, 2006
Supplemental Summary of Corporation Tax
Legislative Changes Enacted in 2005
This TSB-M is the summary of corporation tax legislation enacted in 2005 that was not
addressed in TSB-M-05(3)C, Summary of Corporation Tax Legislative Changes Enacted in
2005.
The following legislative changes are summarized in this memo:
• Investment tax credit for qualified film production facilities;
• Fuel cell electric generating equipment credit;
• Security officer training tax credit;
• Enhancement of farmer’s school tax credit eligibility;
• Exception to the recapture of the empire zone investment tax credit;
• Alternative fuels credit for clean fuel vehicle refueling property;
• Power for jobs tax credit extension; and
• World Trade Center Memorial Foundation contribution.
Investment tax credit for qualified film production facilities (Article 9-A)
The Tax Law has been amended to provide an investment tax credit to a taxpayer subject
to tax under Article 9-A that acquires property where (a) the property is principally used as a
qualified film production facility, including qualified film production facilities located in an
empire zone as designated pursuant to Article 18-B of the General Municipal Law, and (b) the
taxpayer provides three or more services to any qualified film production company using that
facility. These services include, but are not limited to, the provision of:
• a studio lighting grid,
• lighting and grip equipment,
• multi-line phone service,
• broadband information technology access,
• industrial scale electrical capacity,
• food services,
• security services, and
• heating, ventilation, and air conditioning.
For purposes of the investment tax credit, the use of a qualified film production facility
by a qualified film production company is not considered a lease of such facility to such
company. In addition, qualified film production facility and qualified film production company
means those facilities and companies as defined under section 24 of the Tax Law (relating to the
Empire State film production credit.) However, any property used to claim the Empire State film
production credit cannot be used to claim the investment tax credit.
W A Harriman Campus, Albany NY 12227
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