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Gov. Murphy tries to entice movie, TV studios to NJ with big tax credits
BRIANA VANNOZZI, ANCHOR | APRIL 2, 2021 | ARTS & ENTERTAINMENT, BUSINESS
Gov. Phil Murphy sent a letter Thursday to major movie and TV studios looking to poach their productions, according to the Wall Street Journal. The governor is extending tax incentives up to 30% of production costs which is equal to what the state of Georgia offers. He also included a 40% credit to studios willing to open brick-and-mortar sites here.
Hollywood welcome in N.J. as Murphy approves 5 years of film tax credits
Updated Jan 21, 2020; Posted Jan 21, 2020 By Samantha Marcus | NJ Advance Media for NJ.com
Gov. Phil Murphy on Tuesday agreed to extend through 2028 a tax incentive program to bring film, TV and digital productions to New Jersey.
The program is only in its second year and isn’t slated to expire until 2023. But the law the governor signed Tuesday adds five additional years the corporation business tax and income tax credits available to productions that choose to film at locales in the Garden State. …read more…
Crain’s New York Business 4/10/19: Legislature approves $840M in refundable credits for television and movie producers
As part of the $175.5 billion budget deal struck during a weekend of negotiations at the start of this month, Governor Andrew Cuomo and the Democratic-controlled legislature approved $840 million in refundable credits for television and movie producers over the next two fiscal years. The state’s already handed out $7.3 billion of incentives to the industry since 2004, according to the Citizens Budget Commission.