Senate Commerce Committee Statement to Senate, No. 4392 — State of New Jersey (June 12, 2025)
Summary
The Senate Commerce Committee of the State of New Jersey, in a statement dated June 12, 2025, reports favorably Senate Bill No. 4392. The bill revises the Garden State Film and Digital Media Tax Credit Program, which provides corporation business tax and gross income tax credits for expenses of producing certain films and digital media content. It adds a criterion for certain expenses to be eligible for the credit. All original music and original musical scores developed for a film or digital media production must be produced and recorded domestically in the United States or any of its territories.
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“Senate Commerce Committee Statement to Senate, No. 4392 — State of New Jersey (June 12, 2025).”
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SENATE COMMERCE COMMITTEE STATEMENT TO SENATE, No. 4392 STATE OF NEW JERSEY DATED: JUNE 12, 2025 The Senate Commerce Committee reports favorably Senate Bill No. 4392. The bill revises the Garden State Film and Digital Media Tax Credit Program, which provides corporation business tax and gross income tax credits for expenses incurred for the production of certain films and digital media content. Specifically, the bill revises the tax credit program to include an additional criterion for certain film and digital media content expenses to be considered eligible for the tax credit. The bill adds a requirement to the tax credit program for taxpayers that produce films and digital media content that include original music or original musical scores. The bill requires all original music and original musical scores developed for the production of film or digital media content to be produced and recorded domestically in the United States or any of its territories.
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