Provides corporation business and gross income tax credit for certain Pre-Broadway and Post-Broadway theater productions.

S 3503 provides a 35% tax credit against New Jersey corporation business and gross income tax for production companies that incur eligible costs for pre-Broadway and post-Broadway theater productions performed at qualified facilities in the state. The credit covers 35% of production and performance expenditures including sets, costumes, payroll (up to $250,000 per week), advertising, and transportation costs. Production companies must apply to the New Jersey Economic Development Authority for approval, with final approval by the Division of Taxation, and the total annual tax credits are capped at $10 million. This bill directly affects theater production companies seeking to offset costs for shows intended for or following Broadway performances.