The credit is based upon costs of producing films, videogames and national or regional advertising content, in film and digital formats,
For taxable years beginning before January 1, 2006, a personal or corporate income tax credit up to 15% of the total direct production costs incurred in New Mexico after January 1, 2002.
For tax years beginning January 1, 2006 through December 31, 2009, up to 25%.
For tax years beginning January 1, 2009, up to 20%
Credit applies to all industry accounting standard direct costs taxable by New Mexico.
Companies must register before production; credit applies after production in New Mexico has been completed for a tax year
NM Film Incentives
Film Production Sales Tax Deduction
This deduction primarily helps the in-state advertising industry by eliminating double taxation of amounts paid by qualified production companies to those selling or leasing production-related property and services.
Broad application to production costs, including payments for talent, management and labor, set construction, photography, facility and equipment rental among others.
A qualified production company executes nontaxable transaction certificates with its suppliers and vendors for tangible sale or leasing of personal property in New Mexico and services performed in New Mexico.
Suppliers then deduct their receipts from gross receipts tax.
Deduction offers a cost savings 6-8%.
NM Film Incentives
Film Investment Program
The SIC negotiates terms for each project.
Up to $15M can be invested in each project.
Equity investment can be up to 2/3 of production costs.
Guaranteed debt investment can be up to 100% of estimated total production costs.
Equity is paid in lieu of interest, with final maturity between two and four years.
Film project must be filmed wholly or substantially in NM
Film must already have a reputable distribution company.
A majority of the production crew will be New Mexico residents.
Company must post a completion bond or other acceptable guarantee.
NM Film Incentives
New Mexico offers a 25% Tax Rebate on all direct production expenditures, including New Mexico crew, that are subject to taxation by the State of New Mexico. It applies to feature films, independent films, television, regional and national commercials, documentaries, video games and post-production. Non-resident actors and stunt performers will also qualify under a separate tax structure.
No minimum budget requirement
No minimum spend requirement
No minimum shoot day requirement
NM Film Incentives
FILM CREW ADVANCEMENT PROGRAM - FCAP
New Mexico offers a 50% reimbursement of wages for on-the-job training of New Mexico residents in advanced below-the-line crew positions. New Mexican Supervisors and Keys have the opportunity to hire and mentor qualifying NM crew in advanced positions for this program.
For example: if a New Mexican Key Grip is hired, the Key Grip may mentor a New Mexican Best Boy Grip who has less than two film/TV credits as a Best Boy Grip prior to being hired on the production. The Best Boy Grip in this example would qualify for the 50% reimbursement of hourly wages for as many hours the Best Boy Grip has available in the program (up to 1040 hours).
I.A.T.S.E. stands for:
“ The International Alliance of Theatrical Stage Employees”
Which is short for:
“ The International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United States, Its Territories and Canada”
I.A.T.S.E. is divided into over a hundred Locals with 110,000 members Internationally
The Local Chapters of I.A.T.S.E.
Local 480 – Studio Mechanics
Local 423 – Mixed (Stage Workers)
Local 869 – Theatrical Wardrobe
Local 153 – Mixed
(El Paso and Las Cruces)
Membership in I.A.T.S.E. Local 480 is carefully controlled and there are four ways to join:
15 Days of continuous work on a signatory production
30 Days of accumulated work in a covered craft over a 1-year period
5 Years of verifiable paid equivalent experience in a covered craft or 5 years of membership in another trade union (e.g. Electricians Union)
A current card from another Local
If you qualify under one of the criteria you still need to:
Apply for membership by submitting a membership application
Submit two recommendation letters from union members if you are applying under Options 1-3
Submit an Application Fee of $200.00 applicable to Initiation Fees of $600.
Be voted in by a majority of members attending a General Membership Meeting
Once you are voted in you can:
Have your name added to the overflow list in one craft
Work on Signatory Productions
Submit your resume for consideration on Signatory Productions
Post your availability day by day on the Union website
Once you receive your Union card you can:
Do all of the previous items plus:
Have your name added to the roster in three crafts
Collect Union benefits
Sponsor new members
Pay quarterly dues of $75. / Quarter
Pay work dues of 4% of your income
The Union Structure:
BA negotiates contracts with the Producers for the membership and receives a percentage of work dues
Office Staff oversees day-to-day operations and is paid a salary
Executive Board oversees management and operations and is paid to attend meetings
Trustees and auditors oversee the Executive Board & Business Agent
IATSE National oversees all of the above
If you want to join the IA Camera Local 600 you need:
100 days paid work in the specialty of your choice over a 3-year period
To submit an application with at least three references from Local 600 members
To pay an initiation fee of from $8000.00 to $15,000.00