25-30% Refundable Tax Credit
Resident ATL: 30% (TV); 25% (film)
Resident BTL: 30% (TV); 25% (film)
Non-Resident BTL: 15% (limitations apply)
Minimum Spend: None
Project Cap: None
Compensation Cap: $20M
25% on qualified expenditures including, but not limited to:
Travel (in-state and out-of-state)
Shipping (in-state only)
Expenditures must be purchased through a New Mexico based company.
Bonus: There is an extra 5% available for certain qualifying projects dependent upon their NM budgets: 1) for TV Series with an order of six episodes or more (50K minimum per episode) and stand-alone pilots OR 2) for projects (e.g. Features) that utilize the premises of a qualifying production facility for principal photography for a required amount of days (budget dependent).
Annual Cap: $50M
Sunset Date: None
Screen Credit: Yes
CPA Audit: Yes (only for projects that exceed a $5M credit within a tax year)