New Mexico

New Mexico Film Tax Credits

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.
Additional Exemptions Sales & Use Tax Relief Available;  Loan Program between $500,00 and $15,000,000
Qualified Production Expenditures Incurred in State; In-State Vendors; Fringes Paid for Qualified Resident Labor.  Contact us for more details.
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. Contact us for more details.
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

return

NOTE: This content has been prepared by Kevin P. Martin & Associates, P.C. for informational purposes only and should not be construed as tax advice or relied on for specific projects. Though every effort has been made to remain current, laws and incentives change and, therefore, this information may have been revised. Please contact us to confirm any laws or the effect of incentives on your project.