New Jersey’s film and television industry has grown rapidly in recent years, fueled in part by state tax incentives designed to attract productions.
On the latest episode of Garden State Greenlight, Alex Holderbaum, partner and team leader of Withum’s Theatre and Entertainment Services team, and Conor Barnes, partner and team co-leader of the firm’s Music Industry team, join ROI-NJ Multimedia Journalist Thomas Philip to discuss how the state’s film tax credit works and what the industry’s growth could mean for New Jersey’s economy.
Withum is a top-25 advisory, tax and accounting firm providing accounting, tax, audit and advisory services to clients across a range of industries.
Its Theatre and Entertainment Services team provides accounting, attest, tax and advisory services to theatrical, film, music and other entertainment clients. The team’s leadership group has more than 100 combined years of experience serving the theatre and entertainment industry, giving it specialized experience with the financial issues facing productions and entertainment businesses.
During the conversation, Holderbaum and Barnes explain how New Jersey’s film tax incentives can help make the state financially attractive to productions and break down the process filmmakers must navigate to qualify for and ultimately receive a credit.
The discussion also examines the role CPAs can play beyond the incentive itself, including tax planning, business structure, distribution and licensing agreements, and other financial considerations facing productions.
Holderbaum and Barnes also explore the industry’s broader economic impact, including new opportunities for real estate, construction, hospitality, professional services and other businesses supporting New Jersey’s growing production ecosystem.
Listen to the full conversation with Alex Holderbaum and Conor Barnes on the latest episode of Garden State Greenlight.
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