New Mexico Film Tax Credits | Entertainment Tax Credits in New Mexico | Film Tax Credit in NM
Film Production Capital provides tax credit-based financing for films in New Mexico, as well as television, digital interactive media (video games), and all other qualifying entertainment productions. We are the largest purchaser/financier of entertainment tax credits in the country that specializes in independent productions. You can find some of the highlights involving New Mexico film tax credits below.
New Mexico Highlights:
• 25% refundable credit applies to resident cast and crew, and in-state rentals, purchases and services that are subject to NM tax.
• Payments for nonresident performing artists can qualify if paid via a “super loan-out” company which pays gross receipts tax (“GRT”) in NM and the artists pay NM income tax. The 5% GRT is eligible for the credit, so credit for out-of-state performing artists is effectively 21.25%.
• $5 Million credit cap for all performing artists.
• No other caps or spending min.
• Stand-lone post-production can qualify
• Excludes nonresident crew, but includes their per diem and housing.
• State offers loans with backend participation in lieu of interest, for up to $15 Mil per project (which can represent 100% of the budget). Terms are negotiated with the State Investment Council and budget must be at least $2 Mil. May apply for the loan and the 25% Tax Rebate.
• Three-year fixed term feature film production loan with an equity rate of return (7.5% of 100% of the post-breakeven revenue stream), in lieu of interest, for $15 Mil, which represented about 20% of the total budget.
If you are interested in obtaining more information about our services in New Mexico, or any other state, please call us at 1-866-454-9205 or email us at info@filmproductioncapital.com.
New Mexico Film Office: www.nmfilm.com
Incentives Information: http://www.nmfilm.com/filming/incentives/
