New Jersey Film Tax Credit Summary
- Corporation business or gross income tax offset.
- Credit must be utilized during the year of transfer or within the 7-year carryforward period.
- Both the transferor and the transferee must have tax clearance before the tax credit transfer is approved.
- Certificated and transferable tax credit (one-time).
- Sunset date: July 1, 2049
- Transfer fees apply.
- The following tax credit usage limitations apply:
- For corporate business tax, the credit cannot reduce the liability below the statutory minimum tax amount.
- Other limitations apply.
Additional Info About Film Credits
Legislation
Bill A 4448 (1R)
Administrative Guidance
New Jersey Film and Digital Media Tax Credit Program
New Jersey Motion Picture and Television Commission
11-43 Raymond Plaza West
Suite 1410
Newark, NJ 07102
973.648.6279
njfilm@njeda.gov
http://www.nj.gov/state/njfilm/
Investing
Interested in investing in film credits to boost New Jersey’s economy?
Economic Redevelopment and Growth (ERG) Program credit
• Income and insurance premium tax offset.
• Both transferor and transferee must have tax clearance before tax credit transfer is approved.
• 20-year carryforward.
• No recapture.
• Transferable or assignable to another business.
Investing
Interested in investing in tax credits to boost New Jersey’s economy?
Grow New Jersey Assistance Program credit
• Corporation business tax and insurance premium tax offset.
• The eligibility period may not exceed 10 years.
• Both transferor and transferee must have tax clearance before tax credit transfer is approved.
• 20-year carryforward.
• No recapture.
• Transferable or assignable to another business.
Investing
Interested in investing in tax credits to boost New Jersey’s economy?