New Jersey

Economic Redevelopment and Growth (ERG) Program credit

• Income and insurance premium tax offset.
• Both transferor and transferee must have tax clearance before tax credit transfer is approved.
• 20-year carryforward.
• No recapture.
• Transferable or assignable to another business.

Grow New Jersey Assistance Program credit

• Corporation business tax and insurance premium tax offset.
• The eligibility period may not exceed 10 years.
• Both transferor and transferee must have tax clearance before tax credit transfer is approved.
• 20-year carryforward.
• No recapture.
• Transferable or assignable to another business.

New Jersey Film Tax Credit Summary

• Corporation business or gross income tax offset.
• Sunset date: July 1, 2028
• Credit must be utilized during year credit was initially approved or within the 7-Year carryforward period.
• Both transferor and transferee must have tax clearance before tax credit transfer is approved.
• Certificated and transferable tax credit (one-time).
• Transfer fees apply.
• No tax credit usage limitations apply.