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New Mexico adds automation as it ramps up film tax rebates

Sep 5, 2019

 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.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.