New Mexico Film Tax Incentives

New Mexico's refundable tax credit has a ramping annual cap ($140 million for FY2026, $150 million for FY2027, $160 million for FY2028 and beyond) and notably has no minimum spend requirement, making it accessible to projects of any budget. The base credit of 25% is stackable with uplifts of 10% for rural filming (60+ miles from Albuquerque or Santa Fe), 5% for TV pilots and series, and 5% for qualified-facility usage, pushing the effective rate to 40%. New Mexico's production infrastructure is among the most established outside of California and Georgia, anchored by Netflix's ABQ Studios, NBCUniversal's Albuquerque campus, and multiple additional stage facilities in the Santa Fe and Albuquerque corridors. The state's high desert landscapes, dramatic light quality, and architectural diversity, from adobe pueblos to downtown Albuquerque, have supported continuous major production since Breaking Bad put the state on the industry map. The deep vendor network and experienced crew base mean that most department-head positions can be filled locally, reducing travel costs.