'Tonight Show' gets $20 million tax break by moving to New York

By Chelsea Lewis ,

Jimmy Fallon has already broken records when it comes to his new role as host on The Tonight Show and has enjoyed guest stars such as Tim McGraw, Will Smith and even First Lady, Michelle Obama to his show. With all of this success, NBC has one more reason to enjoy The Tonight Show: the show is getting 30 percent tax credits with the goal of having Tonight move away from California after four decades. This will save NBC more than $20 million a year.

Fox News reported that NBC explained the move to New York was for creative reasons, but that the move wouldn't have been able to take place without the help of these new tax credits.

New York Mayor Bill de Blasio is thrilled to have the show move to New York City. "Bringing 'The Tonight Show' back to our city means we're bringing more than a hundred jobs to hard-working New Yorkers, and giving travelers another great reason to visit," said Mayor de Blasio.

These new tax incentives were written into the New York budget by Gov. Andrew Cuomo's term back in early 2013. NBC had thought about moving the show when it was announced that Leno would be leaving and Fallon would be taking his place.

Back in March was when NBC decided to look into the credits further and debate the needs of moving back to New York, The Hollywood Reporter added.

The Tonight Show had been in L.A. since 1972, when it moved from New York City a decade into Johnny Carson's tenure as host.

image: NBC



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