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New Mexico Commercial Production Incentives

State Incentives

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Type of IncentiveRefundable Tax Credit
Incentive Amount25%
ResidencyResident cast and crew only. Non-resident performing artists qualify if paid via a super-loan out.
Minimum SpendNone
Production CapNone
Salary Cap$20,000,000 aggregate cap on performing artists' wages per project
Annual Cap$50,000,000 annual rolling cap
Application TimelineRegistration and tax agreement forms should be submitted no later than 2 weeks prior to production
Loan-Out RegistrationYes
Loan-Out Withholding4.90% withholding and gross receipts tax of 5.125%
CPA AuditNo