Businesses
Government-funded
Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Provides up to 40% refundable or transferable tax credit on qualifying in-state film and TV production costs — one of the most competitive film incentive programs in the United States.
Do I qualify?
Answer the questions below for a rules-based self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Minimum NM spend: $500,000
2.Credit: 25–40% based on NM resident crew percentage and post-production spend
3.15% bonus for rural locations; 5% bonus for NM post-production
4.Fully refundable — cash payment available even without NM tax liability
5.Pre-production application to NM Film Office required
IFO · Illinois
30% transferable tax credit for productions spending $100,000+ in Illinois on film, TV, and commercials, with an additional 15% credit for wages paid to residents of economically disadvantaged areas.
NM TRD · New Mexico
10% income tax credit for commercial solar PV and thermal installations, plus a separate 5% credit for battery storage. Combined with the federal ITC, New Mexico businesses can offset 40–50% of clean energy project costs.
ESD · New York
25–35% refundable tax credits for qualified film and TV productions shooting in New York State, with enhanced benefits for productions outside New York City and post-production work.