new-mexico-film-incentives - MediaHedge Underwriting Knowledgebase

# New Mexico Film and Television Incentives New Mexico’s refundable structure makes the agency payment schedule central to financing. Earning a credit and receiving it within a particular fiscal year are different questions. ## Program Snapshot The base credit is 25% on qualified New Mexico expenditure. Program guidance describes a 10-percentage-point geographic uplift and conditional 5-point television or qualified-facility treatment, subject to expense-specific rules. Television and facility alternatives should not be added together merely because both descriptions appear in a comparison. See [Taxation and Revenue’s FYI-370 guidance](https://realfile.tax.newmexico.gov/FYI-370.pdf) and the film office’s [current explanation of the refundable base and rural uplift](https://nmfilm.com/news/film-spending-in-rural-new-mexico-hits-all-time-high). ## Route to Cash Taxation and Revenue publishes claimed and paid amounts and fiscal-year capacity. Its overview still labels the displayed $140 million cap as **FY 2026**; that figure does not establish availability for a later fiscal year. The supplied October report describes a $150 million FY 2027 payment cap, but this release does not independently certify that amount or remaining FY 2027 capacity. Obtain the applicable current schedule before underwriting a payment date. See the [official film-production credit page](https://www.tax.newmexico.gov/tax-professionals/tax-credits-overview-forms/film-production-tax-credit/). ## Analysis and Inference Separate resident and nonresident labor, approved vendors, locations and the statutory treatment of qualifying film partners. Build the collection case from registration, verified expenditure, tax filing and the payment queue. A maximum gross rate is not the effective rate on the budget or a promise of payment by loan maturity. ## Review Boundary Sources checked October 6, 2026; FY 2027 capacity and the production’s payment position remain open. This scoped gap is why the page remains under review. Follow [[wiki/concepts/monitoring-and-servicing|Monitoring and Servicing]] for the collection forecast. Links checked: 2026-10-06. Review scope and unresolved items are stated above. ## Continue Exploring [[MediaHedge Knowledgebase|Home]] · [[wiki/syntheses/us-film-tax-incentives|U.S. Incentive Guide]] · [[wiki/syntheses/financier-diligence-route|Financier’s Guide]] · [[wiki/syntheses/credit-lifecycle|Credit Lifecycle]] · [[wiki/syntheses/site-navigator|Site Navigator]]