New Jersey Film Tax Credit Summary
- Corporation business or gross income tax offset.
- Sunset date: July 1, 2028
- Credit must be utilized during year credit was initially approved or within the 7-Year carryforward period.
- Both transferor and transferee must have tax clearance before tax credit transfer is approved.
- Certificated and transferable tax credit (one-time).
- Transfer fees apply.
- The following tax credit usage limitations apply:
- 50% for corporation business tax (includes other credits)
Additional Info About Film Credits
Legislation
SB 122
Administrative Guidance
Garden State Film and Digital Media Jobs Act Overview
New Jersey Motion Picture and Television Commission
Steve Gorelick, Executive Director
153 Halsey Street, 5th Floor
Newark, NJ 07101
973.648.6279
njfilm@sos.nj.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?