Date: February 11, 2022Attorney: Martin D. Hauptman

The New Jersey Division of Taxation has updated its list of answers to frequently asked questions regarding the film and digital media tax credit. The Division states that applicants that are seeking to qualify for an additional 5% credit must keep track of all qualified expenses incurred for services performed and goods purchased through qualified New Jersey vendors. The tax credit verification report will include a breakdown of those expenses. If any of the qualified expenses were made through a vendor whose primary a place of business is in one of the counties that qualifies for the increased 5% credit, the county must be notated in the report. Martin D. Hauptman, Chair of the ERISA and Employee Benefits department and partner in Tax Law and Trusts & Estates at Mandelbaum Barrett PC is available to answer any questions you have. 

To read more about the Garden State Film and Digital Media Jobs Act Credit, click here