NEW JERSEY (s 2584)

PROPOSED LEGISLATION (Still in the House or Senate)

December 31, 2010

This bill allows a credit in the amount of 10% of the qualified news, weather and sports content production expenses incurred by a taxpayer during a privilege period beginning on or after January 1, 2011 which exceeds the qualified production costs incurred by that taxpayer during a privilege period beginning on or after January 1, 2010 but before December 31, 2010.  In order to be eligible to claim the credit, at least 80% of the total production expenses must be incurred for services performed and goods used or consumed in New Jersey and, a significant percentage of the production expenses have to include wages and/or salaries paid to one or more new full-time employees in New Jersey. This incentive has a cap of $5 million per fiscal year.

For more information please contact:

Joe Bessacini
Vice President, Film & TV Production Incentives
818-480-4427
jbessacini@castandcrew.com

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