|July 5, 2018||Comments Closed|
New Jersey Revives Film Tax Credit
Governor Phil Murphy has revived the film tax credit in New Jersey, signing Senate Bill No. 122 into law just before the 4th of July break. Like its predecessor, the new program awards tradeable tax credits–in the amount of 30-35% of qualified expenses–to eligible film, TV and digital media companies. The Garden State Film and Digital Media Jobs Act will take effect immediately.
With an annual cap of $85 million, the New Jersey program is expected to attract production companies from all over the US, competing with popular filming locations in neighboring New York, Connecticut and Pennsylvania.
The Professionals of Tax Credits International, Inc. have been placing various state tax credits for 20 years, placing in excess of $1.5 Billion to date.
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