GIT-327: New Jersey Gross Income Tax Film and Digital Media Tax Credit (2024)
New Jersey · NJ Division of Taxation · Used for tax years 2024
Form GIT-327 is used to claim an unused New Jersey Film and Digital Media Tax Credit or credit carried forward against Gross Income Tax. It records approval and certificate information and calculates the allowable credit for the current tax year and the remaining carryover.
Who files this form
Use Form GIT-327 to claim unused Film and Digital Media Tax Credit and/or a credit carryforward against New Jersey Gross Income Tax.
To qualify, you must:
- Have approval from the New Jersey Economic Development Authority (NJEDA) for the credit.
- Have received a tax credit or credit transfer certificate issued by the New Jersey Division of Taxation.
Both questions 1 and 2 must be answered “Yes.” If either answer is “No,” you are not eligible for the credit.
The 2024 form is for tax years beginning on or after January 1, 2024.
What you'll need
Submit these documents to request the credit:
- A completed Form GIT-327.
- A cover letter requesting the credit, including your name, daytime phone number, and current mailing address.
- A copy of your New Jersey Income Tax return.
- A copy of your tax credit or credit transfer certificate.
To complete the form, you will also need your approved credit amount, any credit carried forward from the prior year, and the tax, withholding, credit, and payment amounts from your return. Have the names and amounts of any other current-year tax credits not shown on your return available.
How to file
- File your New Jersey Income Tax return first. This credit cannot be claimed on Form NJ-1040, NJ-1040NR, or NJ-1041.
- Complete Part I of Form GIT-327. Enter the certificate number, individual or entity name, and FID number or Social Security number exactly as shown on the certificate. Check the box indicating that a copy of the certificate has been submitted to the Division of Taxation.
- Complete Part II. Enter the approved credit for the return period on line 4 and the prior-year carryforward on line 5. Follow lines 6 through 11 to calculate the available credit and remaining tax. Line 12 is the lesser of line 6 or line 11. Subtract line 12 from line 6 to determine the carryover on line 13.
- Mail the completed form and required documents to:
New Jersey Division of Taxation
Grant & Credit Review Unit
Attn: Kelly R. Carman, Chief
PO Box 272
Trenton, NJ 08695-0272
Common mistakes
- Claiming the credit directly on your income tax return. You must file that return first, then submit Form GIT-327 to request the credit.
- Putting a prior-year carryforward on line 4. Report it on line 5 instead. If the entire credit claimed is carried forward from a prior year, enter zero on line 4.
- Applying the credit to the wrong year. The credit must be applied to its vintage year, which is the tax year when NJEDA approves the application.
- Using the credit to reduce tax liability below zero. The credit cannot exceed that limit.
- Leaving out other credits on line 9. List the names and amounts of current-year credits not shown on your income tax return. Attach a separate sheet if needed.
Questions people ask
What expenses can qualify for this credit?
The instructions included with the form identify qualified film production expenses and/or qualified digital media content production expenses incurred between July 1, 2018, and June 30, 2039.
Can I carry unused credit forward?
Yes. Credit not applied to the current tax year because of the applicable limitations can be carried over to the seven tax years following the original tax year for which the credit was allowed.
What is the tax credit vintage year?
It is the tax year in which NJEDA approves the application. You must apply the credit to that year.
How much credit can I use for the current year?
Line 12 allows the lesser of your total available credit on line 6 or the remaining tax amount on line 11. The credit cannot reduce total tax liability below zero.