NEW MEXICO

PROPOSED LEGISLATION (STILL IN THE HOUSE OR SENATE)

FEBRUARY 28, 2010

A recent bill introduced in New Mexico would provide a tax credit limit of $2 million per project on all qualified production expenditures and a $2 million per project credit cap on postproduction expenditures.  Also, language has been added to further define a New Mexico resident as a person who has been a New Mexico resident for at least the previous six months. In the past, "time as a resident" was not a determining factor for their wage payments, fringes and fees to qualify as direct production expenditures.  Because of the proposed $2 million per project cap, the $5 million credit limit on services rendered by all performing artists is no longer necessary and, as such, has been deleted.  

For more information please contact:

Joe Bessacini
Vice President, Film & TV Production Incentives
818-480-4427
jbessacini@castandcrew.com

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