New Mexico adds automation as it ramps up film tax rebates | KOB 4
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New Mexico adds automation as it ramps up film tax rebates

New Mexico adds automation as it ramps up film tax rebates

The Associated Press
September 05, 2019 05:45 PM

SANTA FE, N.M. (AP) - New Mexico says it will streamline its system for delivering multimillion-dollar tax rebates to film productions by certifying in-state vendors to automatically qualify for the incentives.

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The state serves as the recent backdrop for "Better Call Saul," ''The Goldfinch" and "Godless" and offers rebates of up to 35 percent to video productions for in-state spending and resident employees.

The Taxation and Revenue Department on Thursday announced the creation of a voluntary certification for film-industry contractors that ensures eligibility for the credit.

Taxation officials will verify that businesses have a physical presence in New Mexico and are up-to-date on tax obligations. Certification is valid for two years.

New Mexico recently increased its annual cap on rebates to $110 million, not including companies such as Netflix with long-term business commitments.

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The Associated Press

Copyright 2019 The Associated Press. All rights reserved.

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