How the NM Film Tax Credit Process Works
PHASE I: Production Inquiry about filming in NM
For the New Mexico refundable tax credit eligibility requirements and general inquiries please email email@example.com.
- Name, phone and email
- Production Company and production title
- Dates of production
- Estimated budget
For questions regarding expenditure qualifications, please email: TRD-FilmCredit@state.nm.us or call 505-795-1735.
If your project is “Green-lit” (meaning a production schedule has been determined and funding and cast are in place) to begin filming in NM, please register your project with the State of New Mexico Taxation and Revenue Department as soon as possible. Doing this step will help expedite the production registration process. Proceed to Phase II.
PHASE II: Submit Registration Forms to NMFO
(At least 30 calendar days before principal photography begins): Complete and submit all of the registration forms to firstname.lastname@example.org. Please make sure that all forms are complete and correct – incomplete forms will be sent back to the production. Proof of funds may also be requested.
Click Here for the registration forms.
PHASE III: Eligibility Letter from NMFO / Pre-Production meeting or call
The NMFO will email the production a letter of certification. The “eligibility letter” states the approved refundable tax credit amount, determination of a CPA audit (if needed) and the confirmation date of the last taxable NM expenditure.
The NMFO will coordinate a pre-production meeting (14 days before principal photography begins) to include representatives form NMFO and NM Tax. & Rev. departments meeting. An agenda will be sent and will cover the following and more: review of the approval letter from NMFO, qualifying expenses, NM vendors, CPA audits (for productions whose credit is over $5M), performing artists, approved non-resident crew exceptions (NRCE), local vendors & outsourcing forms, Declaration of Residency Forms (DOR’s), Film Crew Advancement Program (FCAP), NMFO press release, call sheets, NMFO stats form and the process/time line for the film tax credit application. Meeting agenda’s / forms will be emailed to the production before the scheduled pre-production meeting.
If information on the registration form changes, please fill out a new registration form ASAP. Note: you will have to resubmit the forms if the filing entity or the authorized representative who signed the forms changes. Please remember that the qualifying expenses must be incurred by the filing entity (Dream Catcher Productions, LLC.) listed on these forms.
- Press Release questionnaire (an official press release must be published 1 week prior to principal photography)
PHASE IV: Begin Principal Photography/Post-Production/Stand Alone Post
PHASE V: Starting the Tax Credit Submission Process
Once principal photography/post-production/stand alone post has ended the following will be required:
- Confirmation letter from the production stating that the production does not have any outstanding financial obligations (this confirmation is needed in order to submit the productions film tax credit application to NM Tax. & Rev. Department) with post-accounting contact information (name, email and phone)
- Final vendor list and Final crew list (excel format)
- Completed NMFO STATS FORM. Please note the production must complete Tab 1 and Tab 2 of the stats form.
- Copy of the PROJECT REGISTRATION FORM OR submit an update form if changed from initial submission
- If the production participated in the NRCE program:
- please submit the NRCE SPREADSHEET and confirmation of how “Give Back” requirement was fulfilled
- 5 REQUIRED set photos if participating in NRCE
- If the production was a commercial, etc. production must provide proof of media buys.
- Tax credit application: http://www.tax.newmexico.gov/Tax-Professionals/film-production-tax-credit.aspx
- Please fill out the TRD BUSINESS TAX REGISTRATION FORM and submit.
- Please fill out the TIA FORM and submit.
- Send a screenshot of the end credits: A production for which the new film production tax credit is claimed shall contain an acknowledgment to the state of New Mexico. Unless otherwise agreed upon in writing by the film production company and the division, the acknowledgment shall be in the end screen credits that the production was filmed in New Mexico and a three-second static or animated state logo provided by the division shall be included and embedded in the following: (1) end screen credits before the below-the-line crew crawl for the life of the project of long-form narrative film productions; and (2) body of the program for the life of television episodes, the placement of which shall be: (a) in the opening sequence; (b) as a bumper into or out of a commercial break; or (c) in a prominent position in each single project’s end credits with no less than a half screen exposure, but not covering content.”
- CLICK HERE for NMFO logo
- In addition to the logo, there must be a written acknowledgement (required for all projects). Accepted examples are as follows: “Filmed on Location in the State of New Mexico” or “Thank You to the State of New Mexico,”.