Type of Incentive Tax credit; refundable; nontransferable
Benefit Details 25% of qualifying spend in state, with an additional 5% credit on direct expenditures for qualifying television series or on resident wages and fringes for productions that utilize soundstages for 10 or 15 days of principal photography.Post production costs incurred in state also qualify for 25% credit.
Project Cap None
Annual Cap $50,000,000
Minimum Local Spend None
Loan-Out Company Considerations Loan-outs must pay gross receipts tax in state and withhold for personal income tax.
Qualified Labor Resident; Above the Line and Below the Line; Non Resident Performers with Loan Outs.  Payments for the services of performing artists capped at $20,000,000.
Sunset Date None
Film Commission New Mexico Film Office
Joseph M. Montoya Building
1100 Saint Francis Drive
First Floor, Suite 1213
Santa Fe, New Mexico 87505

Nick Maniatis
nick@nmfilm.com
505.476.5604