A. "commercial audiovisual product" means a film or a videogame intended for commercial exploitation;
B. "direct production expenditure" means a transaction that is subject to taxation in New Mexico, including:
(1) payment of wages, fringe benefits or fees for talent, management or labor to a person who is a New Mexico resident for purposes of the Income Tax Act [7-2-1 NMSA 1978];
(2) payment to a personal services corporation for the services of a performing artist if:
(a) the personal services corporation pays gross receipts tax in New Mexico on the portion of those payments qualifying for the tax credit; and
(b) the performing artist receiving payments from the personal services corporation pays New Mexico income tax; and
(3) any of the following provided by a vendor:
(a) the story and scenario to be used for a film;
(b) set construction and operations, wardrobe, accessories and related services;
(c) photography, sound synchronization, lighting and related services;
(d) editing and related services;
(e) rental of facilities and equipment;
(f) leasing of vehicles, not including the chartering of aircraft for out-of-state transportation; however, New Mexico-based chartered aircraft for in-state transportation directly attributable to the production shall be considered a direct production expenditure;
(g) food or lodging;
(h) commercial airfare if purchased through a New Mexico-based travel agency or travel company for travel to and from New Mexico or within New Mexico that is directly attributable to the production;
(i) insurance coverage and bonding if purchased through a New Mexico-based insurance agent; and
(j) other direct costs of producing a film in accordance with generally accepted entertainment industry practice;
C. "federal new markets tax credit program" means the tax credit program codified as Section 45D of the United States Internal Revenue Code of 1986, as amended;
D. "film" means a single media or multimedia program, excluding advertising messages other than national or regional advertising messages intended for exhibition, that:
(1) is fixed on film, digital medium, videotape, computer disc, laser disc or other similar delivery medium;
(2) can be viewed or reproduced;
(3) is not intended to and does not violate a provision of Chapter 30, Article 37 NMSA 1978; and
(4) is intended for reasonable commercial exploitation for the delivery medium used;
E. "film production company" means a person that produces one or more films or any part of a film; and
F. "postproduction expenditure" means an expenditure for editing, Foley recording, automatic dialogue replacement, sound editing, special effects, including computer-generated imagery or other effects, scoring and music editing, beginning and end credits, negative cutting, soundtrack production, dubbing, subtitling or addition of sound or visual effects; but not including an expenditure for advertising, marketing, distribution or expense payments.
A. "commercial audiovisual product" means a film or a videogame intended for commercial exploitation;
B. "direct production expenditure" means a transaction that is subject to taxation in New Mexico, including:
(1) payment of wages, fringe benefits or fees for talent, management or labor to a person who is a New Mexico resident for purposes of the Income Tax Act [7-2-1 NMSA 1978];
(2) payment to a personal services corporation for the services of a performing artist if:
(a) the personal services corporation pays gross receipts tax in New Mexico on the portion of those payments qualifying for the tax credit; and
(b) the performing artist receiving payments from the personal services corporation pays New Mexico income tax; and
(3) any of the following provided by a vendor:
(a) the story and scenario to be used for a film;
(b) set construction and operations, wardrobe, accessories and related services;
(c) photography, sound synchronization, lighting and related services;
(d) editing and related services;
(e) rental of facilities and equipment;
(f) leasing of vehicles, not including the chartering of aircraft for out-of-state transportation; however, New Mexico-based chartered aircraft for in-state transportation directly attributable to the production shall be considered a direct production expenditure;
(g) food or lodging;
(h) commercial airfare if purchased through a New Mexico-based travel agency or travel company for travel to and from New Mexico or within New Mexico that is directly attributable to the production;
(i) insurance coverage and bonding if purchased through a New Mexico-based insurance agent; and
(j) other direct costs of producing a film in accordance with generally accepted entertainment industry practice;
C. "federal new markets tax credit program" means the tax credit program codified as Section 45D of the United States Internal Revenue Code of 1986, as amended;
D. "film" means a single media or multimedia program, excluding advertising messages other than national or regional advertising messages intended for exhibition, that:
(1) is fixed on film, digital medium, videotape, computer disc, laser disc or other similar delivery medium;
(2) can be viewed or reproduced;
(3) is not intended to and does not violate a provision of Chapter 30, Article 37 NMSA 1978; and
(4) is intended for reasonable commercial exploitation for the delivery medium used;
E. "film production company" means a person that produces one or more films or any part of a film; and
F. "postproduction expenditure" means an expenditure for editing, Foley recording, automatic dialogue replacement, sound editing, special effects, including computer-generated imagery or other effects, scoring and music editing, beginning and end credits, negative cutting, soundtrack production, dubbing, subtitling or addition of sound or visual effects; but not including an expenditure for advertising, marketing, distribution or expense payments.
A. "commercial audiovisual product" means a film or a videogame intended for commercial exploitation;
B. "direct production expenditure" means a transaction that is subject to taxation in New Mexico, including:
(1) payment of wages, fringe benefits or fees for talent, management or labor to a person who is a New Mexico resident for purposes of the Income Tax Act [7-2-1 NMSA 1978];
(2) payment to a personal services corporation for the services of a performing artist if:
(a) the personal services corporation pays gross receipts tax in New Mexico on the portion of those payments qualifying for the tax credit; and
(b) the performing artist receiving payments from the personal services corporation pays New Mexico income tax; and
(3) any of the following provided by a vendor:
(a) the story and scenario to be used for a film;
(b) set construction and operations, wardrobe, accessories and related services;
(c) photography, sound synchronization, lighting and related services;
(d) editing and related services;
(e) rental of facilities and equipment;
(f) leasing of vehicles, not including the chartering of aircraft for out-of-state transportation; however, New Mexico-based chartered aircraft for in-state transportation directly attributable to the production shall be considered a direct production expenditure;
(g) food or lodging;
(h) commercial airfare if purchased through a New Mexico-based travel agency or travel company for travel to and from New Mexico or within New Mexico that is directly attributable to the production;
(i) insurance coverage and bonding if purchased through a New Mexico-based insurance agent; and
(j) other direct costs of producing a film in accordance with generally accepted entertainment industry practice;
C. "federal new markets tax credit program" means the tax credit program codified as Section 45D of the United States Internal Revenue Code of 1986, as amended;
D. "film" means a single media or multimedia program, excluding advertising messages other than national or regional advertising messages intended for exhibition, that:
(1) is fixed on film, digital medium, videotape, computer disc, laser disc or other similar delivery medium;
(2) can be viewed or reproduced;
(3) is not intended to and does not violate a provision of Chapter 30, Article 37 NMSA 1978; and
(4) is intended for reasonable commercial exploitation for the delivery medium used;
E. "film production company" means a person that produces one or more films or any part of a film; and
F. "postproduction expenditure" means an expenditure for editing, Foley recording, automatic dialogue replacement, sound editing, special effects, including computer-generated imagery or other effects, scoring and music editing, beginning and end credits, negative cutting, soundtrack production, dubbing, subtitling or addition of sound or visual effects; but not including an expenditure for advertising, marketing, distribution or expense payments.
