FILM TAX CREDITS NJ

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Film Tax Credits NJ

In 2021, the NJEDA expanded its backing for film and digital media production through the extension of its Film and Digital Media Tax Credit program. This initiative lures production companies to choose New Jersey as their filming location, promoting the growth of extensive studios. The state's strong film tax credit empowers filmmakers to allocate more funds to their final projects without exceeding their budgets.

FILM TAX CREDIT PROGRAM

HOW DOES FILM TAX CREDIT WORKS IN NJ?

  • 1. Incentive Program

    The Film and Digital Media Tax Credit program in New Jersey is designed as an incentive to attract film and digital media production companies to the state.

  • 2. Financial Support

    Filmmakers can benefit from a tax credit, which is a direct financial incentive provided by the New Jersey Economic Development Authority (NJEDA).

  • 3. Percentage of Expenses

    The tax credit is calculated as a percentage of qualified film production expenses, typically ranging from 30% to 35%.

  • 4. Encouraging Local Production

    By offering these tax credits, New Jersey aims to encourage the development of large-scale studios and boost the local economy.

  • 5. Budget Allocation

    Tax credits allow filmmakers to allocate more of their budget towards the actual production of their projects, fostering a competitive environment in NJ.

  • 6. Program Duration

    Film Tax Credit program is set to run through 2034, providing a long-term incentive for filmmakers to choose NJ as their preferred location for production.

 Check If You Are Eligible Or Not

Check if your company is eligible for the film tax credit by filling out our short 2-minute questionnaire.

Where can I learn more about Film Tax Credit Program?