New Mexico’s film tax incentive program got two black eyes today at the PGA’s Produced By panel on state tax incentives. Transcendence and A Million Ways to Die in the West, which both shot in New Mexico last year, still haven’t received their tax incentives, which are being tied up by a bureaucratic mind boggling array of red tape and audits.
Panelist Peter Wentzel, vp of production finance at Media Rights Capitol, complained that this company’s film A Million Ways to Die in the West is still dealing with the state’s auditors even though the production wrapped there in August.
Describing New Mexico’s new auditing process as “onerous”, he stated that the company had to scan over 12,000 pages of financial documents to get its incentives. “it’s tough to get answers and explanations”.
“It’s been interesting,” said Yolanda Cochran, SVP of physical production at Alcon Entertainment.
Alcon’s Transcendence wrapped there in June and hasn’t received their tax incentives either, its state audit is stalled in what she called “A holding pattern. It’s quite the process which is unfortunate. You don’t have this with other states incentives.”
Other panelists gave high marks to tax incentive programs in Louisiana, Georgia, and Massachusetts.