Form 318 - Film Production Tax Credit - New Jersey Corporation Business Tax - 2012

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NEW JERSEY CORPORATION BUSINESS TAX
318
FORM
FILM PRODUCTION TAX CREDIT
(09-12, R-4)
2012
FOR RETURN PERIODS ENDING ON AND AFTER JULY 31, 2012
NOTE: THIS TAX CREDIT IS SUSPENDED FOR FISCAL YEAR 2011.
Name as Shown on Return
Federal ID Number
NJ Corporation Number
READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM
PART I
QUALIFICATIONS
1. Were the qualified film production expenses incurred during a privilege period beginning after January 12, 2006, or
were the qualified digital media content production expenses incurred during a privilege period beginning on or
after January 11, 2008? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
2. Were at least 60% of the total film production expenses, exclusive of post-production costs, or were
at least $2,000,000 of the digital media content production expenses incurred for services performed and
goods used or consumed in New Jersey? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
3. Did the principal photography of the film begin within 150 days of the approval date of the tax credit
application? Leave blank if qualified expenses relate only to digital media content production. . . . . . . . . . . . . . . . . . .
YES
NO
4. Is a copy of the approval for this tax credit attached to the return? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
NOTE:
If the answer to any of the above questions is “NO”, do not complete the rest of this form. The taxpayer does not qualify for the
film production tax credit, otherwise, go to Part II.
PART II
CALCULATION OF THE FILM PRODUCTION TAX CREDIT
5. Enter the amount of the qualified film production expenses and/or, the qualified digital media
content production expenses incurred during the period covered by the return . . . . . . . . . . . . . . . . . . . .
5.
6. Enter 20% (.20) of line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Enter the film production tax credit carried forward from the prior year . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Total film production tax credit - Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
PART III
CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
9. Enter tax liability from page 1, line 9 of CBT-100 or BFC-1, or line 4 of CBT-100S . . . . . . . . . . . . . . . . .
9.
10. Enter the required minimum tax liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Subtract line 10 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Enter 50% (.50) of the tax liability reported on line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Enter the lesser of line 11 or line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
14. Tax Credits taken on current year’s return (see instruction (c) for Part III):
a) __________________________
. . . . . . . . . . . . . . . .
__________________________
b) __________________________
. . . . . . . . . . . . . . . .
__________________________
c) __________________________
. . . . . . . . . . . . . . . .
__________________________
d) __________________________
. . . . . . . . . . . . . . . .
__________________________
e) __________________________
. . . . . . . . . . . . . . . .
__________________________ . .Total 14.
15. Subtract line 14 from line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
16. Allowable credit for the current tax period. Enter the lesser of line 8 or line 15 here and on
Schedule A-3 of the CBT-100, the CBT-100S or the BFC-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.

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