Paramount Unlocks Bigger NJ Film Tax Credit With Studio Lease

Paramount is now eligible for expanded tax credits for filming in New Jersey unlocked by a 10-year lease it signed this week to anchor a major studio development in the state.

The New Jersey Economic Development Authority voted unanimously on Thursday to designate the media giant a “studio partner” under the state’s film and digital media tax credit program. Paramount joins Netflix Inc. and Lionsgate Studios Corp. as the final partner in the state’s program that offers up to 40% tax credits for qualified labor expenses and good and services.

Paramount Skydance Corp. signed a lease to access 285,000 ...