The New Jersey Film & Digital Media Tax Credit Program provides a transferable credit against the corporation business tax and the gross income tax for certain expenses incurred for the production of certain films and digital media content in New Jersey.
The goal of the program is to incentivize production companies to film and create digital media content in New Jersey.
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https://www.nj.gov/njfilm/regulations-registering.shtml
Should you require additional information, please call us at (973) 648-6279.
Questions? Contact the New Jersey Motion Picture & Television Commission or the New Jersey Economic Development Authority.
A Film-lease Partner Facility designation application is available for studio developers who own, lease, or operate a production facility of at least 250,000 square feet for a period of five years or more. To be eligible to apply, applicants must have site control, and at least preliminary site plan approval, an executed redevelopment agreement, or an adopted redevelopment plan that contemplates the construction of a film studio. Following the approval of the designation, the owner or developer needs to be able to provide a temporary or permanent certificate of occupancy for the site within 36 months. Additionally, as condition of the facility designation, the owner or developer of these facilities are required to partner with NJEDA and accept an equity investment in the project by the Authority. There is a total of two designations available for Film-lease Partner Facilities.
The film-lease partner facility designation is not an award of tax credits; however, the designation allows for future tenants of a designated Film-lease Partner Facility to receive increase tax credit awards for filming in New Jersey. The award increases apply if the designated facility’s tenant qualifies as a “film-lease production company”. To qualify, the production company must occupy space at designated film-lease partner facility, film at least 50 percent of the total project shoot days in New Jersey and at least 50 percent of the New Jersey shoot days at the designated facility.
Applications for projects who qualify under the film-lease production company designation are allowed an increased base tax credit of 40% and can qualify excess above-the-line wage and salary payments which are normally capped at $750,000 per person. In addition to the increase award calculations, film-lease production company projects have access to a separate allocation of $150 million annually and benefit from a separate project queue.
For full program details and to access the application, please visit https://www.njeda.gov/film/. Specific questions may be directed to FilmTaxCredit@njeda.gov.
Save up to an additional 6.625% on New Jersey sales tax Certain tangible property purchased and used by your company directly – and primarily in the production of film and television programs – is exempt from New Jersey sales tax. Moreover, long-term hotel rentals exceeding 90 days may also be exempt from sales tax. A detailed list of eligible items, along with the law, instructions and the certificate for the Sales Tax Exemption can all be found below.
Opportunity Zones are an economic development tool that allows people to invest in distressed areas in the United States. Their purpose is to spur economic growth and job creation in low-income communities while providing tax benefits to investors.
Official Site of The State of New Jersey