NM Film Production Tax Credit

The New Mexico Film Production Tax Credit sits under the New Mexico Taxation and Revenue Department and applies to film and post-production companies with direct expenditures subject to New Mexico tax. It is a refundable tax credit, not a grant, and the FY2026 cap is $140 million, with a separate uncapped tier for designated New Mexico Film Partners. By April 2026, $86.4 million had been claimed or paid, leaving $53.6 million available in the capped pool. The credit also includes a rural premium introduced by 2019 Senate Bill 2. Projects must register with the NM Film Office before filming begins, and claims over $5 million require a CPA audit by a New Mexico-licensed auditor before submission to TRD. The program favors productions that can organize early and document spend cleanly. Its delivery is split across agencies: the Film Office certifies the project first, then TRD processes the credit and refund. That makes compliance and timing more important than competition, because the main test is eligibility, documentation, and remaining cap rather than peer review.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.