New Mexico Film Production Tax Credit
New Mexico Film Office / New Mexico Taxation and Revenue Department
25–40% of NM production spend
Researched for this program: 4 rejection traps · 6 required documentsWhat decides this award ↓
Refundable 25–40% NM film credit
New Mexico's film production tax credit is one of the most competitive in the US: a 25% base refundable credit on direct in-state production expenditures, with stackable uplifts that can push the effective rate to 40%. The credit is refundable — the state pays the credit in cash regardless of the production company's New Mexico tax liability. No minimum spend requirement. Annual fiscal year cap of $140 million for FY 2026.
- Funding type
- Tax Credit
- Level
- State
- Amount
- 25% refundable base credit on direct New Mexico production expenditures. Stackable uplifts: +10% for rural productions (60+ miles from Albuquerque or Santa Fe); +5% for TV pilots or series; +5% for shooting at a qualified facility. Maximum effective rate: 40%. Annual FY 2026 Film Fund cap: $140,000,000.
- Realistic amount
- A $5M New Mexico spend earns $1.25M at the base 25% rate, or up to $2M at the 40% maximum. Credits are paid as cash by t…
- Deadline
- Rolling — no intake cycles. Apply through New Mexico Film Office before production begins. FY 2026 annual cap is $140M; apply early in the fiscal year.
- Status
- active
- States
- NM
- Payment model
- tax offset
Who qualifies
- For-profit film, television, commercial, music video, animation, and digital media production companies
- No minimum spend requirement — all qualifying New Mexico expenditures are eligible
- Expenditures must be direct production costs incurred in New Mexico
- Rural uplift (+10%): production must take place 60+ miles from Albuquerque or Santa Fe city centers
- TV series uplift (+5%): applies to pilots and episodic series
- Qualified facility uplift (+5%): production must use a certified New Mexico qualified production facility
- Non-resident labor qualifies if work is physically performed in New Mexico
- Post-production work performed in New Mexico qualifies
Hard requirements
- Must be incorporated
- Restricted to industry: film, television, commercial, or media production
What it covers
Eligible expenses
- New Mexico resident and non-resident labor (for work physically performed in New Mexico)
- Equipment rentals from New Mexico vendors
- Location fees paid to New Mexico landowners and facilities
- Qualified production facility fees at certified studios
- Post-production services performed in New Mexico
- Materials and supplies purchased from New Mexico vendors
Ineligible expenses
- Development costs, script rights, and story acquisition
- Costs incurred outside New Mexico
- Marketing, distribution, and publicity costs for the completed project
- Pass-through costs to out-of-state vendors
How to apply
-
1
Register with New Mexico Film Office
Contact the NMFO before production begins to register your project and confirm eligibility. Obtain a production certificate or pre-certification documentation.
-
2
Track and document New Mexico expenditures
Maintain detailed records of all in-state payroll, vendor payments, facility rentals, and equipment costs. Distinguish between New Mexico-qualifying and out-of-state costs.
-
3
Submit cost report and claim credit
After production wraps, file a New Mexico Corporate Income and Franchise Tax return and claim the credit using the applicable tax forms. A CPA or accountant familiar with NM film credit rules is strongly recommended.
-
4
Receive refund
Because the credit is refundable, if the credit exceeds the production company's NM tax liability, the state pays the balance as a cash refund. Processing typically takes 3–9 months after filing.
Industry & certifications
NAICS codes: 512110, 512120, 512191
Unlike Georgia, NM pays refunds in cash — no need to sell credits to a third party. The rural +10% uplift is the most impactful: productions 60 miles from ABQ/Santa Fe earn 35% base vs. 25% — worth planning the shoot location around.
Deadline & timing
The $140M annual cap is FY 2026 specific and can be exhausted mid-year — productions should register their credit claim early. New Mexico fiscal year runs July 1–June 30. Credit is claimed after production is complete and costs are verified.
Applications are open — don’t lose the window
GrantCompass tracks New Mexico Film Production Tax Credit’s application windows in the live catalog. Leave an email and we’ll warn you before this window closes — and tell you when the next round opens.
Free. One email when the window moves, deadline warnings on your watchlist, and the monthly closing-soon digest. Unsubscribe anytime.
Related programs
This program is not taking applications today — these are
Alternatives computed from the live GrantCompass catalog on August 25, 2026 — all 183 open grant programs · filter the database.
Explore more funding
Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.