With its proximity to NYC, New Jersey film tax incentives can be a strong reason for production companies currently shooting across the border in New York. New Jersey offers up to a 20% tax credit as an incentive for qualified production expenses. KPM Film Credit Advisors can help you understand which production expenses qualify for the New Jersey film tax incentive program and help you get the most out of producing your TV or film project in NJ.
New Jersey Film Tax Incentives and Information
|Type of Incentive||Tax credit; non-refundable; transferable; 7 year credit carry forward|
|Benefit Details||20% credit of qualified spend in the state.To be eligible, 60% of the total production expenses, excluding post production costs, must be spent in New Jersey.|
|Minimum Local Spend||None|
|Loan-Out Company Considerations||Must register to do business with the Secretary of State.|
|Additional Exemptions||Hotel Occupancy Tax Relief Available
Sales & Use Tax Relief for Productions Available.
|Qualified Production Expenditures||Incurred In-State; In-State Vendors; Out of State Vendors; Fringes Paid for Qualified Labor ; Taxes Paid for Qualified Labor. Contact us for more details.|
|Qualified Labor||Resident and Nonresident; Above the Line and Below the Line. Wages must be subject to New Jersey income tax in order to qualify. Contact us for more details.|
|Sunset Date||June 30, 2015|
|Film Commission||New Jersey Motion Picture & Television Commission
153 Halsey Street, 5th Floor
PO Box 47023
Newark, NJ 07101Steve Gorelick, Executive Director
The New Jersey Film Tax Incentive Program
KPM Film Credit Advisors can help you decide if the benefits of the New Jersey film tax incentive program are right for your project. Contact us at (781) 849-5357 or email us today and we can compare the New Jersey film tax incentive program with other state film tax credit or film tax incentive programs and help decide which one is right for your film or TV project.
NOTE: This content has been prepared by Kevin P. Martin & Associates, P.C. for informational purposes only and should not be construed as tax advice or relied on for specific projects. Though every effort has been made to remain current, laws and incentives change and, therefore, this information may have been revised. Please contact us to confirm any laws or the effect of incentives on your project.