2019 New Mexico Statutes
Chapter 7 - Taxation
Article 2F - Film Production Tax Credit
Section 7-2F-11 - Requirements to contract with certain vendors.
A. A film production company shall make reasonable efforts, as determined by the division, to contract with a specialized vendor whose ordinary course of business directly relates to a standard industry craft inventory and that:
(1) provides services;
(2) provides inventory, for sale or lease, that is maintained in New Mexico and represented by the specialized vendor; or
(3) subcontracts similar standard industry craft inventory from other businesses with or without physical presence.
B. If a film production company does not contract with a specialized vendor, but contracts with a vendor that provides services, does not sell or lease standard industry craft inventory and outsources inventory from out-of-state businesses for a film production company, the film production company shall provide documentation of reasonable efforts made to find a specialized vendor.
History: Laws 2015, ch. 143, § 10.
ANNOTATIONSEffective dates. — Laws 2015, ch. 143 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2015, 90 days after the adjournment of the legislature.
