Unlock the Benefits: Demystifying New Mexico Film Incentives

By ERMW Team
Thurs September 14, 2023

Discover the power of New Mexico's film incentives and take your film and TV projects, and other media projects to new heights. Learn how to maximize your tax credits and savings while filming in the Land of Enchantment.

TAX INCENTIVES AT A GLANCE

  • Base Credit Amount: 25%

  • Rural Uplift Zone Amount: 10%

  • Qualified Production Facilities (QPF) Amount: 5%

  • Series TV and Standalone Pilots Intended For Series Amount: 5%

  • Maximum credit amount: 40% (QPF & TV cannot be stacked)

New Mexico, also known as the "Land of Enchantment," boasts a captivating landscape and a thriving film industry. Filmmakers around the world are flocking to this state to take advantage of its Film Production Tax Credit. This credit provides a refundable tax credit of up to 40% on qualified expenditures incurred during production.

With careful planning and adherence to the program's guidelines, filmmakers can significantly reduce their production costs and invest those savings back into their projects. Moreover, the state's Film Production Tax Credit extends to qualifying post-production expenses, making it a desirable destination for editing and visual effects work as well.

WHAT TYPE OF PROJECTS MAY QUALIFY?

  • Feature films

  • Independent films

  • Television (MOW, pilots, series, reality)

  • Certain Commercials and EPKs

  • Documentaries 

  • Student Films

  • Short films

  • Animation

  • Video games

  • Music videos

  • VR

  • Multi-Media

  • New Media

  • Standalone Post Production

To ensure an efficient and seamless application process, it is crucial for filmmakers to familiarize themselves with the necessary guidelines and requirements. The New Mexico Film Office serves as a valuable resource, providing detailed information about eligibility criteria, application procedures, and deadlines. By leveraging this knowledge, filmmakers can effectively navigate through the process and maximize their chances of availing the incentives.

WHAT YOU NEED TO APPLY

BEFORE YOU BEGIN FILMING/WORK ON YOUR PROJECT, REGISTER YOUR PRODUCTION COMPANY TO DO BUSINESS IN THE STATE OF NEW MEXICO!

Once registered, you must complete and send the documents below to the New Mexico Film Office (links to current forms are on NMFO site) at least 30 calendar days before the principal photography/audiovisual media/stand-alone post begins:

  • NMFO PROJECT REGISTRATION FORM

  • APPLICATION for NEW FILM PRODUCTION TAX CREDIT

  • BUSINESS TAX REGISTRATION (BTRU) or business registration certificate

  • TAX INFORMATION AUTHORIZATION (TIA)

  • SAFETY ACKNOWLEDGEMENT

  • PRESS RELEASE QUESTIONNAIRE

  • SCRIPT

  • PRODUCTION ONE-LINER AND/OR LIST OF FILMING LOCATIONS (CITY ONLY) AND DATES

  • PROOF OF FUNDS

  • BUDGET TOP SHEET

  • FILM CREW ADVANCEMENT PAPERWORK (FCAP)

  • PROOF OF MEDIA BUYS (Commercials Only)

  • LETTER OF CERTIFICATION AND PRE-PRODUCTION MEETING

AFTER WRAP

Within 60 days of the last eligible expenditure in New Mexico: complete and submit the following to nm.film@nmfilm.com, (links to current forms are on NMFO site).

  • COMPLETION OF PROJECT NOTICE

  • FINAL VENDOR LIST (in EXCEL FORMAT)

  • FINAL CREW LIST (in EXCEL FORMAT)

  • STATS FORM

  • TAX CREDIT APPLICATION

Within one year of the last eligible expenditure in New Mexico, Complete and submit the following to nm.film@nmfilm.com

  • CONFIRMATION OF NO FINANCIAL OBLIGATIONS

  • NRCE/GIVEBACK

  • GIVEBACK CONFIRMATION

  • TAX CREDIT APPLICATION

  • PHOTOS

  • END CREDIT SCREENSHOT with NMFO logo and language

Overall, New Mexico's film incentives offer an exciting opportunity for filmmakers to bring their projects to life with greater ease and financial benefits. The $110 million per fiscal year payout is now increased to an eventual $160 million in $10 million increments per fiscal year. By taking advantage of the Film Production Tax Credit, employing local crew members, and exploring the state's stunning locations, filmmakers can maximize their production budgets.



Shuler Theatre in Raton, New Mexico

ERMW Team

Our leadership team bring years of experience in many different sectors to bear on the challenges of expanding economic and workforce development.

https://www.elratonmediaworks.org/board
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