MPA Applauds NJ Expanding Digital Media Tax Credits

New Jersey Gov. Phil Murphy (D) signed legislation to expand digital media production tax credits under a state program established in 2018. S-4094/A-6070 “will ensure that our state remains a top destination for some of our country’s most significant film and TV productions,” Murphy said Wednesday. This increases the digital media content production tax credit to 35% of qualified digital media content production expenses purchased through vendors in certain counties including Atlantic and Camden, and 30% in other parts of the state, Murphy’s office said: It triples the cumulative annual limitation on digital media content production tax credits to $30 million. Starting in FY 2025, the bill allows $100 million more in tax credits for New Jersey film-lease partners from tax credits under other incentive programs, said the governor’s office. New Jersey’s program “grows stronger with new enhancements” that will create new jobs and boost investment in the state, MPA CEO Charles Rivkin said Thursday.