Magazine article Screen International

New Mexico Increases Tax Incentives

Magazine article Screen International

New Mexico Increases Tax Incentives

Article excerpt

Newly passed legislation makes it easier for feature film productions to qualfy for the 30% labour credit.

New Mexico legislature has made key improvements to the state's tax incentive programme for film and television production.

The newly passed legislation is in keeping with the goals of both the Governor and legislative leaders to pass substantive economic development bills during New Mexico's current legislative session, which ends Saturday [March 21].

Coming two years after the state passed the "Breaking Bad Bill" that increased financial incentives for series television to 30%, the legislation extends the 30% credit to stand-alone pilot episodes and makes it easier for feature film productions to qualify for the 30% labour credit by expanding the definition of "qualified facilities".

Dana Arnold, CEO of Albuquerque Studios, commented: "We want to thank the legislators and the Governor for promoting job creation and small business growth in New Mexico. …

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