This version of the form is not currently in use and is provided for reference only. Download this version of Form 318 for the current year.
This is a legal form that was released by the New Jersey Department of the Treasury - a government authority operating within New Jersey. As of today, no separate filing guidelines for the form are provided by the issuing department.
Q: What is Form 318 Film Production Tax Credit?
A: Form 318 Film Production Tax Credit is a tax credit program in the state of New Jersey that provides financial incentives to qualifying film productions.
Q: Who is eligible to claim the Film Production Tax Credit?
A: Eligible entities include film production companies that meet certain criteria set by the New Jersey Economic Development Authority.
Q: How do I apply for the Film Production Tax Credit?
A: To apply for the Film Production Tax Credit, you need to complete and submit Form 318 to the New Jersey Economic Development Authority.
Q: What expenses are eligible for the tax credit?
A: Eligible expenses include qualified film production expenses incurred in New Jersey, such as payroll, goods and services purchased from New Jersey vendors, and certain other costs.
Q: What is the maximum amount of tax credit that can be claimed?
A: The maximum amount of tax credit that can be claimed is 35% of eligible expenses incurred in New Jersey.
Q: Are there any limitations on the tax credit?
A: Yes, there are certain limitations on the tax credit, including a cap on the total amount of credits that can be issued each year and a minimum spending requirement.
Q: How can the tax credit be used?
A: The tax credit can be used to offset the corporation business tax liability or sold or transferred to another taxpayer.
Q: Is there a deadline for submitting the application?
A: Yes, there is a deadline for submitting the application, which is usually specified by the New Jersey Economic Development Authority.
Form Details:
Download a printable version of Form 318 by clicking the link below or browse more documents and templates provided by the New Jersey Department of the Treasury.