Garden State Film & Digital Media Jobs Act
Film General Overview
• $75 million/year program cap
• $10 million/year project cap
• 30°/o tax credit in most counties
• 35% tax credit in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer or Salem Counties
• 2% additional if the crew meets a diversity standard (currently being established)
• Above the line costs are included, but the salaries of highly compensated individuals are capped at $500,000 per person.
• In order to qualify, a production company must spend 60% of their total budget in New Jersey, less postproduction costs, OR a minimum of $1 million.
• Projects must exceed 22 min. in length and be intended for national or international distribution.
• News shows, current events programming, weather and market reports, talk shows, sporting events and corporate/sales films do not qualify for tax credits.
• Reality television shows qualify for tax credits only if the production company producing the show owns or leases a production facility of at least 20,000 sq. ft. for a minimum of 24 months, and invests at least $3 million in the facility, which must be located in a designated urban enterprise zone.
• Principal photography of a project must commence within 180 days of the original date of application, or within 150 days of approval of application in the NJEDA Board.
• Applications will be considered on a first come, first served basis.
• A production company's New Jersey production costs, and in some cases total production costs, must be certified by a New Jersey CPA according to agreed upon procedures.