Currently the pending applications for tax credits through the New Jersey Film Tax Credit program evidence demand for allocations through FY 2015. Per statute, the program will expire in FY 2015. EDA is no longer accepting applications for the program.
The Authority approved the FY 2012 allocation/projects through its Board of Directors on September 14, 2011. Going forward, only applications received by September 14, 2011 will be considered.
IF YOU ARE: A film company engaged in motion picture or TV images in New Jersey for theatrical, commercial, or educational purposes.
YOU CAN ELECT: To obtain tax credits under the Film Production Assistance Program.
IN THE AMOUNT OF: 20% tax credit for qualified production costs on their New Jersey Corporate Business or Gross Income Taxes
PROGRAM DETAILS: Operating in partnership with the Division of Taxation and the New Jersey Motion Picture and Television Commission, the EDA assists film production companies by reducing costs through tax credits. Film production companies can receive a 20% tax credit for qualified production costs on their New Jersey Corporate Business or Gross Income Taxes. To be eligible, 60% of the total production expenses, excluding post-production (marketing and advertising), must be spent in New Jersey. Principal photography must begin within 150 days of approval.