As of July 1, 2018, New Jersey once again offers a very competitive financial incentive for filmmakers. For questions regarding the program, please do not hesitate to reach out to our Commission by email at email@example.com
The following is a basic overview of the program, focusing on its most pertinent aspects.
Our state offers production companies a transferable tax credit for qualified expenses incurred in New Jersey, including purchases, rentals and services performed. The amount of the tax credit is 30% in most counties, but rises to 35% in the following counties: Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer and Salem.
Productions eligible for the program must exceed 22 minutes in length and be intended for national distribution. No less than 60% of a production’s budget, less post-production costs, must be spent in New Jersey or, alternatively, the production must accrue a minimum of $1 million in qualified New Jersey expenses.
Below-the-line costs qualify, as well as above-the-line costs, limited to payments not in excess of $500,000 to highly compensated individuals.
A production company’s New Jersey expenses and, in some cases, total expenses, must be certified by a New Jersey CPA. Additionally, principal photography needs to begin within 180 days of application to the program, or 150 days of approval by the Board of the New Jersey Economic Development Authority.
The program began on July 1, 2018 and will remain in effect for five years. There is a $100 million annual program cap per fiscal year(July 1-June 30) through June 30, 2028 .
Applications are available at the New Jersey Motion Picture and Television Commission’s web site (www.film.nj.gov). Staff members will be happy to guide producers through the application process and answer any questions.
The short answer is yes, however, the unpredictability of this pandemic demands constant attention. When planning your next shoot in New Jersey be sure to first reach out to staff members at the NJ Motion Picture Commission for the most up-to-date information and guidance.