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.
This information is posted pursuant to Section 7-2F-12 (E) NMSA 1978 to provide guidance to film production companies regarding the amount of credit capacity remaining in the fiscal year. The taxation and revenue department shall post monthly on that department’s website the aggregate amount of credits claimed and paid for the fiscal year.
The Allowable Fiscal Year 2025 Film Fund Cap is $130,000,000.00. For Fiscal Year 2025, Film Production Tax Credits claimed and paid is $28,495,352.07. Film Production Tax Credits Remaining is $101,504,647.93. Partner Film Production Tax Credit is not subject to a fund cap and the amount claimed and paid is $5,260,129.65. 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
- March 2025 = $1,166,646.00
- April 2025 = $ 11,026,642.84 and $5,260,129.65
- May 2025 = $410,616.00
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