'Tonight Show' move will net $20 million in tax credits
Jimmy Fallon's youthful style isn't the only thing NBC will gain in New York
New York will play a big part in NBC's revamped version of "The Tonight Show."
Not only is it the hometown of new host Jimmy Fallon, but it marks a reunion for New York and the show, which hasn't been shot there since Johnny Carson split for Burbank, Calif., more than 40 years ago. But there's another more pecuniary benefit attached to the relocation, which will be official in February. NBC could receive more than $20 million in annual tax breaks for shooting "The Tonight Show" in the Big Apple, THR reports.
New York's state incentives program offers a 30 percent annual tax credit for talk shows shot in front of studio audiences with at least 200 people. To qualify, the shows must also carry a production budget of at least $30 million and have been filmed outside New York for five seasons or more.
Current production costs for "The Tonight Show" are an estimated $76.5 million annually, not including the host's salary, and so a 30 percent credit would yield $22.95 million in savings. While some say shooting the show in New York would be more costly, the increase will be offset by the tax credit.
NBC could receive even more credits for building Fallon's new studio and postproduction work as well as discounts on goods and services the network purchases from local businesses.
"The Tonight Show With Jay Leno" airs weeknights at 11:35 p.m. ET/PT on NBC. "Late Night With Jimmy Fallon" airs weeknights at 12:35 a.m. ET/PT on NBC.
Jimmy Fallon is so talented, very creative and genuine.
He can do it all.
Love The Roots being part of his show.
Let's see.......... A 20 million dollar tax rebate per year, compliments of the current political administration of the State of New York, which is currently running a multi-billion dollar annual deficit. Once again, the average Joe is going to take it in the (fill in the blank)
And we can't figure out what the problem is?
Where are all the libs decrying "Big TV" and their tax "loopholes"?? I wonder if the OWS dirtbags will be flooding into the lobby of the NBC studios in NYC to protest these tax breaks for the rich? Maybe have a sit-in? Or bust up a few windows, deficate on the floor and other mayhem? Yeah, I didn't think so.
Uummm, that's just ****,
NBC can stick it where the sun don't shine. Pay your fair share in taxes you peice of crap, and stay in L.A. No wonder I love Letterman, and CBS.
yep.. and I don't watch ANY of the late night shows. boring talking by even more boring
Who said, being a strong supporter of LW politics didn't have a payoff? Having grown up in WNY I wonder what the little people will have to pay for such corporate largess from the democrat party?
Years ago Buffalo said they needed to collect an increased rate of local option taxes to bail the city out. Just temporary mind you. At the time the sales tax rate would go up to 8%. Visited the ol' homestead last fall and noticed that the sales tax rate was about 8.5%. Mom's property and school tax was in excess of $4 grand/year in an area of low desirability except for the Ken-Ton school district.
NBC is being subsidized by the government. How else could they still exist?