Film Production Tax Credit
New Mexico offers a film production tax credit for film production companies that have direct production and direct post-production expenditures that are subject to taxation by the State of New Mexico.
The Allowable Fiscal Year 2025 Film Fund Cap is $130,000,000.00. Film Production Tax Credits Claimed and Paid for Fiscal Year 2025 is $15,891,447.23. Film Production Tax Credits Remaining is $114,108,552.77. Fiscal Year 2025 monthly breakdown of credits claimed and paid are as follows:
- July 2024 = $0
- August 2024 = $0
- September 2024 = $98,889.64
- October 2024 = $1,805,961.27
- November 2024 = $4,255,877.93
- December 2024 = $7,818,459.53
- January 2025 = $1,909,406.84
- February 2025 = $2,852.02
Certified Public Accountants:
If the amount of the requested tax credit is more than $5,000,000; an audit conducted by a CPA licensed to practice in New Mexico must include the audit results with the application.
Click Audit Agreed Upon Procedures
Additional Information:
Click Rural Area Film Tax Credit Map: 2019 Senate Bill 2 Section 8 A. (1)
Click FYI-370 Information Regarding Film Production Tax Credits
Contact Information:
Contact information on eligibility and registering a project before production, please contact:
NM Film Office
Economic Development Department
Phone: 505-476-5600
Email: nm.film@nmfilm.com
For questions regarding the audit procedure for Film Production Tax Credit:
Film Credit Unit
Taxation & Revenue Department
Albuquerque Office (505) 795-1735
Email: TRD-FilmCredit@state.nm.us
For questions regarding claiming the Film Production Tax Credit:
Revenue Processing Unit
Taxation & Revenue Department
Santa Fe Office Phone: 505-827-0792
businesscredit.mgr@tax.nm.gov