New Mexico set the standard for film production incentives and still maintains one of the most robust incentives programs in the country.
We highly encourage filmmakers and producers to meet with representatives from the NM State Film Office and the Santa Fe Film Office. They would love to hear about your project and assist you with all your production needs. In the meanwhile, here's some starter information:
New Mexico’s 25-30% Refundable Tax Credit applies to:
Films (features, independents, shorts, student films)
Television projects (pilots, series, MOWs, reality)
Commercials (regional, national and internet)
Post-production & stand-alone post-production
No minimum spend requirement
No minimum budget requirement
No application fees
No sunset clause
Additional 5% Tax Credit
For pilots and TV series (to all qualifying New Mexico expenditures, including New Mexico resident crew) as well as feature films (for which the additional 5% applies only to New Mexico resident crew).
The $50 Million Cap
New Mexico authorizes up to $50 million per fiscal year (July 1 - June 30) to be expended on film tax credits. If that full amount of $50 million has been expended, no worries, your production will still receive the credit (the payment being rolled over to the beginning of the following fiscal year).
New Mexico isn’t very stringent about acquiring permits, but keep in mind that they are required for production on federal, state-owned and tribal properties and lands. Permits are also often required for production on city properties, especially historical sites and public streets, as well as for special use of county roads and state highways.