New Mexico Film Production Tax Credit
New Mexico offers a 25% refundable base credit on direct in-state production and post spend, with stackable uplifts toward ~40%: +10% for rural filming, +5% for using a qualified production facility, and +5% for a TV series. Non-resident below-the-line crew generally don't qualify. Paid as cash from a yearly rolling fund (about $140M in FY2026).
How the program works
- • 25% on direct New Mexico production & post spend
- • +10% — Rural / standing-set uplift: +10% for work ≥60 miles outside Albuquerque and Santa Fe city halls.
- • +5% — Qualified production facility uplift: +5% for productions using a certified soundstage / standing set.
- • +5% — TV series uplift: +5% for a qualifying series (≥6 episodes/season, ≥$50K NM budget/episode) or pilot.
- Max effective rate: 40%
- • Minimum qualified spend: $0
- • Spend must be direct NM production/post expenditure subject to NM tax.
- • Non-resident performing artists and Film Partner (super loan-out) crew can qualify within statutory sublimits — verify amounts.
- • CPA / state audit required
- • Screen-credit / logo requirement
How it becomes cash
This is a refundable credit. The state pays out the amount above your tax liability as a cash refund, so you don't need in-state tax to benefit.
Rolling annual fund: ~$140M (FY2026), rising to $150M/$160M; a queue/rollover applies when exhausted. Non-resident-related credits carry separate sublimits.
Are you a film commissioner or agency with official updates to this program? If you have corrections to this documentation, please submit them here.
Submit an update →This is an estimate, not advice.
Every number here is an estimate generated from published program rules and your inputs. Programs change with each legislative session, and qualification depends on details a calculator can't see. This is not tax, legal, or financial advice. Before you make a financing decision, confirm everything with the state film office and a qualified CPA and entertainment attorney.