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New Jersey Bolsters Tax Credits For Digital Media, Follows Incentives For Film And Television

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deadline.com

NJ Gov. Phil Murphy has signed legislation to expand tax credits for digital media production as part of a push to draw new business to the state following his incentives for film and television.Murphy launched a tax credit regime for film and TV in 2018 and expanded it in 2020.

It’s boosted production, attracting projects like West Side Story, The Equalizer and The Many Saints of Newark. This latest law gives the same treatment to digital media, which it didn’t define but can include a range of content from entertainment websites and digital publishing to video games.

Leading digital businesses in the state include the NBC Universal Digital Media Campus in Englewood Cliffs (where CNBC is headquartered) and Audible, owned by Amazon, which is based in Newark.The new legislation boosts the portion of the tax credit program allocated to digital media content to 30% of qualified spending in state and 35% in specific counties (Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer, or Salem).

Read more on deadline.com
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