Tax credits are even sexier than movie stars in the film industry.
And the New Mexico Taxation and Revenue Department is making it easier for the film industry to find local companies that will qualify film projects for state film tax credits.
The department will soon have a list of qualified New Mexico film vendors that have a confirmed physical presence in the state and are reporting and paying all applicable taxes in the state.
The state Economic Development Department will help market the Qualified Film Vendor Certification program. The department’s Film Office has close relations in the film industry and already has a list of vendors, though these vendors are not confirmed as qualifying for tax credits.
As of June 3 in fiscal year 2019, film production refunds totaled 46 claims for $50 million.