New Mexico Film Guide

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NM FILM TAX INCENTIVES

The Film Tax Credit

Beginning July 1, 2023, updates for film production companies that meet the requirements of the Film Production Tax Credit Act may apply for, and the taxation and revenue department may allow, a tax credit for qualified spends made in New Mexico. 

  • Base Credit Amount:                             25%
  • Maximum credit amount:                      40%

The uplifts for television and the QPF cannot be stacked.

An additional 5% tax credit is available if certain criteria are met when filming a television series or a pilot.

  • Series television production must be:
    • Intended for commercial distribution,
    • Have an order for at least six episodes in a single season,
    • NM budget of at least $50K per episode.
  • The pilot must be:
    • Intended for series production in New Mexico.

An additional 5% tax credit is available if certain criteria are met regarding using qualified production facilities (soundstage/standing set).

The uplift is only applicable for time spent in production at the qualified production facility and does not apply to offices attached to the QPF.

SEE FULL LIST OF QUALIFIED PRODUCTION FACILITIES

A 10% tax credit is available for qualified expenditures in New Mexico areas at least sixty miles outside the Santa Fe and Albuquerque City Halls. 

SEE UPLIFT ZONE MAP

The $110 million per fiscal year payout is now increased to an eventual $160 million in $10 million increments per fiscal year.*

FY23: $110 million
FY24: $120 million
FY25: $130 million
FY26: $140 million
FY27: $150 million
FY28: $160 million
FY29 onward: $160 million

$5 million cap per production for non-resident principal performing artists.*

No cap for resident artists.

15% credit with a cap on twenty qualifying below-the-line positions.*

READ MORE

*Criteria differs for New Mexico Film Partners (Netflix, NBCUNiversal and 828 Productions)

ADDITIONAL INCENTIVES