Form 318 - Film Production Tax Credit - New Jersey Corporation Business Tax - 2012 Page 3
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4Form 318-A
Instructions for Form 318
(09-12, R-4)
FILM PRODUCTION TAX CREDIT
NOTE: THIS TAX CREDIT IS SUSPENDED FOR FISCAL YEAR 2011.
PURPOSE OF THIS FORM - This schedule must be completed by any taxpayer claiming a Film Production Tax Credit and/or credit
carry forward as provided for in N.J.S.A. 54:10A-5.39. In general, a credit is allowed in an amount equal to 20% of the qualified film
production expenses paid by the taxpayer during the privilege period, provided that at least 60% of the total production expenses (other
than post-production) were for services performed or goods used in New Jersey, and provided that the principal photography began
within 150 days after the credit application was approved. A credit is also allowed in an amount up to 20% of the qualified digital media
content production expenses provided that at least $2,000,000 of the expenses were for services performed or goods used in New
Jersey. This credit may be claimed for qualified film production expenses incurred on or after January 12, 2006 and/or qualified digital
media content production expenses incurred on or after January 11, 2008. P.L. 2010, c.20 suspended the film and digital media credit
of N.J.S.A. 54:10A-5.39 for fiscal year 2011.
NOTE: Only complete the applicable lines from Parts II, III and IV where the full amount of the film production tax credit claimed on
the current return is the result of a film production tax credit carried forward from a previous tax year.
DEFINITIONS:
Film - means a feature film, a television series or a television show of 15 minutes or more in length, intended for a national
audience. "Film" shall not include a production featuring news, current events, weather and market reports or public programming,
talk show, game show, sports event, award show or other gala event, a production that solicits funds, a production containing
obscene material as defined under N.J.S.2C:34-2 and N.J.S.2C:34-3, or a production primarily for private, industrial, corporate or
institutional purposes.
Qualified Film Production Expenses - means an expense incurred in New Jersey for the production of a film including post-
production costs incurred in New Jersey. Qualified expenses include but are not limited to wages and salaries of individuals
employed in the production of a film on which the New Jersey Gross Income Tax has been paid or is due; the costs of construction,
operations, editing, photography, sound synchronization, lighting, wardrobe and accessories and the cost of rental of facilities and
equipment. Qualified expenses do not include expenses incurred in marketing or advertising a film.
Total Film Production Expenses - means costs for services performed and tangible personal property used or consumed in the
production of a film.
Post-production Costs - means the cost of the phase of production that follows principal photography, in which raw footage is cut
and assembled into a finished film with sound synchronization and visual effects.
Qualified Digital Media Content Production Expenses - means an expense incurred in New Jersey for the production of digital
media content. Qualified expenses shall include but not be limited to wages and salaries of individuals employed in the production
of digital media content on which New Jersey Gross Income tax has been paid or is due; the costs of computer software and
hardware, data processing, visualization technologies, sound synchronization, editing and the rental of facilities and equipment.
Qualified expenses shall not include expenses incurred in marketing, promotion or advertising digital media or other costs not
directly related to the production of digital media content. Costs related to the acquisition or licensing of digital media content by
the taxpayer for distribution or incorporation into the taxpayer’s digital media content shall not be qualified digital media content
production expenses.
Total Digital Media Content Production Expenses - means costs for services performed and property used or consumed in the
production of digital media content.
PART I - QUALIFICATIONS
The answer to all questions must be "YES". If the answer to any of the questions is "NO", the taxpayer is not entitled to the film
production tax credit.
PART II - CALCULATION OF THE FILM PRODUCTION TAX CREDIT
Follow the instructions on lines 5 through 8 to calculate the total film production tax credit
(over)
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