reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS › Section 360.Sec. 17 - NEW

Current through June 11, 2024
1. The mining education tax is a tax imposed
			 on a business entity engaged in the business of extracting and selling gold or
			 silver, or both, in this State on or after July 1, 2021. For the purposes of
			 the mining education tax:
(a) Gold or silver
			 has the meaning ascribed to it in section 8 of Assembly Bill No. 495, chapter
			 249, Statutes of Nevada 2021, at page 1270 (NRS 363D.040) and includes, without
			 limitation, dore bars, slurry and refined ore.
(b) A business entity is engaged in the
			 business of extracting gold or silver, or both, in this State if the business
			 entity realizes any gross revenue during a taxable year from the sale of gold
			 or silver, or both, extracted by the business entity in this State.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS › Section 360.Sec. 18 - NEW

Current through June 11, 2024
1. Except as otherwise provided in subsection
			 3 and sections 2 to 40, inclusive, of Assembly Bill No. 495, chapter 249,
			 Statutes of Nevada 2021, at pages 1269-79 (NRS 363D.010-363D.310, inclusive),
			 for the purposes of the mining education tax, a person or other entity is a
			 business entity if the person is:
(a) An
			 entity organized pursuant to title 7 of NRS or another equivalent statute of
			 this State or another jurisdiction, other than an entity organized pursuant to
			 chapter 82 or 84 of NRS.
(b) A
			 partnership governed by chapter 87 of NRS or another equivalent statute of this
			 State or another jurisdiction.
(c)
			 A registered limited-liability partnership registered with the Secretary of
			 State pursuant to
			 NRS
			 87.440 to
			 87.500,
			 inclusive.
(d) A business
			 association.
(e) A joint venture,
			 except a joint operating or co-ownership arrangement which meets the
			 requirements of
			 26
			 C.F.R. §
										1.761-2(a)(3),
			 Treas. Reg. § 1.761-2(a)(3), that elects out of federal partnership
			 treatment as provided by
			 26
			 U.S.C. §
										761(a).
(f) A joint stock company.
(g) A holding company.
(h) A natural person who is required to file
			 with the Internal Revenue Service a:
(1)
			 Schedule C (Form 1040), Profit or Loss from Business, or its equivalent or
			 successor form;
(2) Schedule E
			 (Form 1040), Supplemental Income and Loss, or its equivalent or successor form,
			 if an activity of the natural person is reported on Part I of that Schedule;
			 or
(3) Schedule F (Form 1040),
			 Profit or Loss from Farming, or its equivalent or successor form.
(i) Any other person engaging in a
			 business of extracting and selling gold or silver or both in this
			 State.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS › Section 360.Sec. 19 - NEW

Current through June 11, 2024
If a contract for the sale of gold or silver extracted by a
				business entity in this State establishes the sales price of the gold or silver
				in a currency other than the United States dollar, in calculating the amount of
				the gross revenue realized from the sale of the gold or silver, the business
				entity must convert the sales price into United States dollars using the
				average exchange rate for the taxable year, as determined using Forex
				Exchange.
Added to NAC by Dep't of Taxation by
				R130-21A,
				eff. 2/23/2022
NRS
				360.090
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS › Section 360.Sec. 20 - NEW

Current through June 11, 2024
1. Each business entity whose Nevada gross
			 revenue in a taxable year exceeds $20,000,000 must file with the Department a
			 Nevada Mining Education Tax Return for that taxable year pursuant to subsection
			 2 of section 25 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021,
			 at page 1274 (NRS 363D.160) .
2. A
			 business entity's gross revenue is computed as provided in section 26 of
			 Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1270 (NRS
			 363D.020) and a business entity is entitled to deductions from its gross
			 revenue as provided in subsections 1 to 19, inclusive, of that section, which
			 includes amounts for any gross revenue realized from the sale or transfer of a
			 mineral other than gold or silver and any amount of any pass-through revenue of
			 the business entity.
3. Each
			 business entity shall submit with the first Nevada Mining Education Tax Return
			 filed with the Department a report that identifies each:
(a) Location for which the business entity
			 has been issued a permit to engage in a mining operation pursuant to
			 NRS
			 519A.210; and
(b) Geographically separate operation where
			 gold or silver, or both, is extracted by the business entity for which a
			 separate statement is filed pursuant to
			 NRS
			 362.110,
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS › Section 360.Sec. 21 - NEW

Current through June 11, 2024
1. The Department may waive or reduce the
			 penalty or interest, or both, for a late payment of the mining education tax
			 under the grounds set forth in NAC
			 360.396.
2. A taxpayer or the taxpayer's agent may
			 request the waiver or reduction of the penalty or interest, or both, pursuant
			 to subsection 1 by submitting to the Department any federal income tax return,
			 Nevada Mining Education Tax Return or statement filed pursuant to
			 NRS
			 362.110 on which the taxpayer or taxpayer's
			 agent relied and a written statement signed under oath by the taxpayer or the
			 taxpayer's agent which establishes that the taxpayer qualifies for the relief
			 requested.
3. The Department shall
			 not consider a request made pursuant to subsection 2 until the taxpayer has
			 paid in full the tax or fee upon which the interest or penalty is
			 assessed.
Added to NAC by Dep't of Taxation by
				R130-21A,
				eff. 2/23/2022
NRS
				360.090,
				NRS
				360.417, as amended by section 43 of Assembly
				Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1280, and section
				30 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1277
				(NRS 363D.210)
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS › Section 360.Sec. 22 - NEW

Current through June 11, 2024
A business entity may pay under protest the mining education
				tax, without waiving or otherwise affecting any right of the business entity to
				recover any amount determined, through appropriate legal action taken by the
				business entity against the Department, to have been in excess of the amount of
				tax lawfully payable.
Added to NAC by Dep't of Taxation by
				R130-21A,
				eff. 2/23/2022
NRS
				360.090
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS › Section 360.Sec. 23 - NEW

Current through June 11, 2024
The provisions of NAC
				363C.310 to
				363C.590, inclusive, set forth
				the method for situsing to this State the gross revenue from the provision of
				certain services for the purposes of the mining education tax. NAC
				363C.310 to
				363C.590, inclusive, are not
				intended to set forth a comprehensive list of services but provides the method
				for situsing to this State the gross revenue from each service listed. If a
				service is not specifically listed in NAC
				363C.310 to
				363C.590, inclusive, the
				provisions of those sections providing the method for situsing a similar
				service may provide guidance. The provision of a service that is not listed in
				NAC 363C.310 to
				363C.590, inclusive, or similar
				to a service listed in those sections may be handled on a case-by-case basis,
				the revenue from such a service must be sitused to this State in accordance
				with NUS
				363C.220. The Department
				reserves the right to review and adjust any situsing of gross revenue made by a
				business entity.
Added to NAC by Dep't of Taxation by
				R130-21A,
				eff. 2/23/2022
NRS
				360.090, section 27 of Assembly Bill No. 495,
				chapter 249, Statutes of Nevada 2021, at page 1276 (NRS 363D.180)
				.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › CLAIMS OF OWNERSHIP INTEREST IN PROPERTY TRANSMITTED TO OR SEIZED BY DEPARTMENT › Section 360.610 - Written claim: Executed under oath; contents; action of Department on filing

Current through June 11, 2024
1. To claim an ownership interest in property
			 transmitted to or seized by the Department pursuant to NRS
			 NRS
			 360.530, a person who does not owe any tax to
			 the Department must file a written claim with the Department at least 3 days
			 before the date set for the sale of the property.
2. A written claim filed pursuant to
			 subsection 1 must be executed under oath by the person claiming the ownership
			 interest and must contain:
(a) The name of the
			 person filing the claim;
(b) An
			 address in this State where the person may be served by mail;
(c) A description of the property in which
			 the person claims an interest;
(d)
			 A description of the interest claimed; and
(e) A statement that sets forth the facts
			 upon which the person bases his or her claim.
The person may attach to the written claim any documents that
				support the claim.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › CLAIMS OF OWNERSHIP INTEREST IN PROPERTY TRANSMITTED TO OR SEIZED BY DEPARTMENT › Section 360.612 - Administrative hearing: Date of hearing; notice; procedure; notice of findings of fact, conclusions of law and decision; appeal

Current through June 11, 2024
1. A hearing officer shall conduct an
			 administrative hearing after the Department receives a claim filed pursuant to
			 NAC 360.610 to determine ownership of the property to which the claim
			 pertains.
2. Except as otherwise
			 provided in subsection 3, the hearing officer shall conduct an administrative
			 hearing pursuant to this section within 15 days after the Department receives a
			 claim filed pursuant to NAC 360.610. The hearing officer may continue such a
			 hearing for good cause shown.
3. An
			 administrative hearing may be conducted pursuant to this section on the date on
			 which the property to which the claim pertains is seized or transmitted to the
			 Department if, on that date:
(a) The
			 ownership of the property can be established to the satisfaction of the hearing
			 officer with information obtained by the Department; or
(b) The person who is claiming the ownership
			 interest can provide the information and documentation required by subsection 2
			 of NAC 360.610.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › DISTRIBUTION OF PROCEEDS OF CERTAIN TAXES TO LOCAL GOVERNMENT › Section 360.650 - Determination of need for adjustment: Requirements for review; notification of local government or special district; annual report of findings

Current through June 11, 2024
1. To determine whether an adjustment to the
			 amount allocated to a local government or special district from the Local
			 Government Tax Distribution Account is necessary pursuant to NRS
			 NRS
			 360.695, the Director shall:
(a) On or before March 31 of each year,
			 review the population, as determined pursuant to NRS
			 NRS
			 360.285 or subsection 9 of NRS
			 NRS
			 360.690, and assessed valuation of the
			 taxable property, as determined pursuant to NRS
			 NRS
			 361.390, of each local government and special
			 district; and
(b) Review all
			 information that is available concerning the amount allocated to the local
			 government or special district, including, without limitation:
(1) Whether the local government or special
			 district has been determined to be in severe financial emergency pursuant to
			 NRS
			 NRS
			 354.685; and
(2) A comparison of the total per capita
			 revenue of the local government or special district and the total per capita
			 revenue of each other local government or special district of similar size and
			 type.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Audits of Taxpayers › Section 360.700 - Contact to schedule appointment; contents of auditor's letter; period covered by audit; written request for extension of commencement date or estimated completion date; consequences of failure to provide necessary records

Current through June 11, 2024
1. As soon as practicable after selection of
				an account for audit, the auditor assigned to the audit shall attempt to
				contact the taxpayer by telephone to schedule an appointment that is convenient
				for the taxpayer and the auditor for the purpose of performing the audit. If
				the auditor is unable to contact the taxpayer by telephone, the auditor shall
				send a letter to the taxpayer requesting the taxpayer to contact the auditor to
				schedule an appointment for the purpose of performing the audit.
2. In scheduling an audit, the auditor and
				the taxpayer must discuss:
(a) A date on which
				to commence the audit;
(b) An
				estimate of the date by which the audit will be completed;
(c) The first and last months of the audit
				period;
(d) The nature of the
				business being audited and the availability of records;
(e) The hours during which the records will
				be available for review by the auditor;
(f) The contact person with whom the auditor
				is to work in conducting the audit and reviewing the results of the audit;
				and
(g) The criteria set forth in
				subsection 4 for changing the period that the audit will cover and extending
				the commencement date or estimated completion date, or both, of the
				audit.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Audits of Taxpayers › Section 360.702 - Taxpayer's reliance on written advice; review of documentation by Director and recommendation to Commission regarding waiver of tax, interest or penalty

Current through June 11, 2024
1. If a taxpayer
				provides written documentation during an audit that indicates that the taxpayer
				relied to his or her detriment on written advice provided by an officer, agent
				or employee of the Department, an opinion of the Attorney General or the
				Commission, or the written results of an audit of his or her records conducted
				by the Department, the auditor shall document the facts and circumstances
				relating to the issue for the audit file and shall continue the audit. Such
				documentation may include, without limitation:
(a) An advisory opinion issued by the
				Department pursuant to NAC 360.190, 360.195 and 360.200 in response to the
				request of the taxpayer for advice on an issue, if the facts contained in the
				request are similar to the facts of the transactions under review in the
				current audit;
(b) A letter issued
				by the Department to the taxpayer regarding the manner in which to account for
				the specific types of transactions under review in the current audit;
(c) Written documentation which establishes
				that the taxpayer has been audited previously by the Department and that the
				results of that audit conflict with the results of the current audit;
(d) An opinion or decision of the Attorney
				General or the Commission that addresses an issue or circumstances that are
				similar to the specific types of transactions under review in the current
				audit; and
(e) A letter issued by
				the Department to the taxpayer that defines the items, scope and issues
				reviewed in a prior audit which are similar to the specific types of
				transactions under review in the current audit. The occurrence of a prior audit
				is not conclusive evidence that relieves the taxpayer of liability in the
				current audit.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Audits of Taxpayers › Section 360.704 - Letter to taxpayer addressing audit issues upon completion of audit

Current through June 11, 2024
Upon completion of the audit, the Department shall issue a
				  letter to the taxpayer setting forth:
1. The issues reviewed in the
				audit;
2. The period of time under
				review for each section of the audit, including, without limitation, sample
				months, if applicable;
3. The
				results of the audit; and
4. If the
				taxpayer was using an incorrect method of collecting or accruing tax on a
				specific transaction reviewed in the audit, the proper method of collecting or
				accruing tax on the transaction.
Added to NAC by Tax
				  Comm'n by R045-01, eff. 11-1-2001
NRS
					 360.090
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Audits of Taxpayers › Section 360.706 - Notice of deficiency determination; petition for redetermination; extension for filing petition; Department review; use of hearing officer; prehearing statement; extension for filing prehearing statement; notice of hearing; withdrawal of petition

Current through June 11, 2024
1. If, after an
				audit, the Department determines that delinquent taxes are due, the Department
				shall issue to the taxpayer a notice of the deficiency determination. The
				notice must be issued on or before the estimated completion date or revised
				estimated completion date of the audit. The Department shall include with the
				notice a form prescribed by the Department for filing a petition for
				redetermination.
2. If the taxpayer
				wishes to dispute the findings of the audit, the taxpayer must petition the
				Department for a redetermination within 45 days after he or she is served with
				the notice of the deficiency determination. A petition for redetermination must
				be submitted:
(a) On a form prescribed by the
				Department for filing a petition for redetermination; or
(b) In the form of a letter which contains
				sufficient information to give notice to the Department that the taxpayer is
				disputing the deficiency determination. The letter must include, without
				limitation, the name of the taxpayer, the account number assigned to the
				taxpayer by the Department and the amount of the tax, interest or penalty in
				dispute.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.720 - Definitions

Current through June 11, 2024
As used in NAC 360.720 to 360.736, inclusive, unless the
				  context otherwise requires, the words and terms defined in NAC 360.722, 360.724
				  and 360.726 have the meanings ascribed to them in those sections.
Added to NAC by Tax
				  Comm'n by R039, eff. 8-13-2010
NRS
					 360.090,
					 360.250
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.722 - "Auditee" defined

Current through June 11, 2024
"Auditee" means the responsible county officer who is the
				  subject of a performance audit.
Added to NAC by Tax
				  Comm'n by R039-10, eff. 8-13-2010
NRS
					 360.090,
					 360.250
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.724 - "Performance audit" defined

Current through June 11, 2024
"Performance audit" means a systematic and objective
				  examination of evidence to provide an independent assessment of the performance
				  of a responsible county officer in carrying out his or her responsibilities
				  relating to the preparation of the assessment roll and the collection of
				  property taxes.
Added to NAC by Tax
				  Comm'n by R039-10, eff. 8-13-2010
NRS
					 360.090,
					 360.250
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.726 - "Responsible county officer" defined

Current through June 11, 2024
"Responsible county officer" means any county assessor,
				  auditor, comptroller, recorder or treasurer or other county officer having any
				  responsibilities relating to the preparation of the assessment roll or the
				  collection of property taxes.
Added to NAC by Tax
				  Comm'n by R039-10, eff. 8-13-2010
NRS
					 360.090,
					 360.250
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.728 - Periodic conduct of audits by Department; qualifications of employees conducting audits

Current through June 11, 2024
1. The Department
				shall periodically conduct performance audits of selected books, accounts and
				other records of responsible county officers in each county to determine any
				one or combination of the following:
(a)
				Whether the appraisals of the county assessor comply with all applicable laws
				and regulations governing the assessment of property taxes.
(b) Whether any county procedures relating to
				the preparation of the assessment roll or the collection of property taxes,
				including, without limitation, any procedures for the assessment of property,
				claiming or determining tax exemptions, billing for taxes, enforcing the
				payment of taxes, the redemption or sale of property, or the apportionment of
				tax proceeds, comply with all applicable laws and regulations governing such
				procedures.
(c) The honesty and
				integrity of fiscal affairs, the accuracy and reliability of information and
				reports, and the effectiveness of the system of management controls of the
				auditee relating to the preparation of the assessment roll and the collection
				of property taxes.
(d) Whether
				control by management and the system of information provide an adequate system
				of records and accounting relating to the preparation of the assessment roll
				and the collection of property taxes.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.730 - Duties of responsible county officers and their staff; maintenance of confidentiality by Department

Current through June 11, 2024
1. Every
				responsible county officer and member of the staff of a responsible county
				officer shall:
(a) Aid and assist the
				Department at such times as the Department requires in the inspection,
				examination and audit of any books, accounts and other records in their
				possession relating to the preparation of the assessment roll or the collection
				of property taxes.
(b) Upon the
				request of the Department, make available to the Department all their books,
				accounts, claims, reports and other records of information, whether
				confidential or otherwise and irrespective of their form or location, as may be
				necessary to conduct a performance audit.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.732 - Preliminary report of Department; statement of explanation or rebuttal by auditee; presentation and dissemination of final written report

Current through June 11, 2024
1. The Department shall furnish a copy of the
				preliminary report of a performance audit to the auditee and discuss the report
				with the auditee. The auditee shall submit to the Department, within 10 days
				after the discussion, a written statement of explanation or rebuttal concerning
				any of the findings of the Department, and the Department shall include in the
				final report of the performance audit the auditee's explanation of or rebuttal
				to any of the findings contained in the final report.
2. The Department shall present a final
				written report of each performance audit to the Commission and the Board, and
				provide copies to each member of the Commission, each member of the Board,
				other appropriate state officers, the pertinent board of county commissioners
				and the auditee.
Added to NAC by Tax
				  Comm'n by R039-10, eff. 8-13-2010
NRS
					 360.090,
					 360.250
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.734 - Plan for corrective action: Notification by Commission; submission by auditee; duties of Department

Current through June 11, 2024
1. The Commission
				shall notify an auditee of its acceptance of a final written report of a
				performance audit by the Department that concerns the auditee and contains any
				recommendations for corrective action. Within 60 working days after the receipt
				of such notification, the auditee shall submit a plan for corrective action to
				the Department.
2. The Department
				shall:
(a) Notify the Commission, the Board
				and the pertinent board of county commissioners of any failure to submit a plan
				pursuant to subsection 1.
(b)
				Provide a copy of each plan received pursuant to subsection 1 to the
				Commission, the Board and the pertinent board of county
				commissioners.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › AUDITS › Performance Audits of Certain County Officers › Section 360.736 - Report following submission of plan for corrective action: Duties of auditee and Department; review by Commission

Current through June 11, 2024
1. Each
				auditee who submits a plan pursuant to NAC 360.734 shall, within 6 months after
				the submission of the plan, submit to the Department a report specifying the
				extent to which the recommendations of the Department have been carried out,
				the extent to which the recommendations have not been carried out and the
				reasons for any failure to carry out the recommendations.
2. The Department shall:
(a) Notify the Commission, the Board and the
				pertinent board of county commissioners of any failure to submit a report
				pursuant to subsection 1.
(b)
				Provide a copy of each report received pursuant to subsection 1 to the
				Commission, the Board and the pertinent board of county
				commissioners.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.800 - Definitions

Current through June 11, 2024
As used in NAC
				360.800 to
				360.865, inclusive, and sections
				2 and 3, unless the context otherwise requires, the words and terms defined in
				NRS
				360.7581 to
				360.7586, inclusive, and NAC
				360.805 to
				360.820, inclusive, and section 2
				have the meanings ascribed to them in those sections.
Added to NAC by Office
				of Economic Dev. by R120-13, eff. 12-23-2013; A by
				R062-22A,
				eff. 2/13/2023
NRS 360.759
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.805 - "Certificate of eligibility" defined

Current through June 11, 2024
"Certificate of eligibility" means a certificate of eligibility
				for transferable tax credits.
Added to NAC by Office
				of Economic Dev. by R120-13, eff. 12-23-2013
NRS
				  360.759
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.810 - "Executive Director" defined

Current through June 11, 2024
"Executive Director" means the Executive Director of the
				Office.
Added to NAC by Office
				of Economic Dev. by R120-13, eff. 12-23-2013
NRS
				  360.759
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.815 - "Office" defined

Current through June 11, 2024
"Office" means the Office of Economic Development.
Added to NAC by Office
				of Economic Dev. by R120-13, eff. 12-23-2013
NRS
				  360.759
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.820 - "Transferable tax credits" defined

Current through June 11, 2024
"Transferable tax credits" means transferable tax credits
				issued by the Office pursuant to NRS
				NRS
				360.759.
Added to NAC by Office
				of Economic Dev. by R120-13, eff. 12-23-2013
NRS
				  360.759
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.825 - "Other visible media productions" interpreted

Current through June 11, 2024
For the purposes of determining whether a production is a
				qualified production pursuant to NRS
				NRS
				360.7586, the Office interprets the term
				"other visual media productions," as used in paragraph (l) of subsection 1 of
				NRS
				NRS
				360.7586, to mean video games, mobile
				applications and other visual media productions determined to be visual media
				productions by the Office.
Added to NAC by Office
				of Economic Dev. by R120-13, eff. 12-23-2013
NRS
				  360.759
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.830 - Certificate of eligibility: Application; priorities for approval; reasons for denial

Current through June 11, 2024
1. Transferable tax
			 credits may not be applied to any of the fees and taxes specified in
			 NRS
			 360.759 unless the Office has issued a
			 certificate of eligibility.
2. To
			 obtain a certificate of eligibility, a production company must:
(a) Submit to the Office, before the start of
			 principal photography or principal development of the qualified production,
			 whichever is applicable, an application for a certificate of eligibility. The
			 application must be on a form prescribed by the Office and, in addition to the
			 information required by
			 NRS
			 360.759, contain the following information:
(1) The name of the qualified
			 production;
(2) A description of
			 the qualified production;
(3) A
			 summary budget for the entire qualified production, including, without
			 limitation, separate in-state and out-of-state subtotals for:
(I) Wages and salaries, including fringe
			 benefits, for above-the-line personnel;
(II) Wages and salaries, including fringe
			 benefits, for below-the-line personnel;
(III) Qualified expenditures and costs, as
			 determined in accordance with
			 NRS
			 360.7591 and NAC
			 360.855 and
			 360.860 and section 3;
			 and
(IV) Unless otherwise included
			 in the information provided pursuant to sub-subparagraphs (I), (II) and (III),
			 the maximum compensation payable to any employee or independent contractor paid
			 a wage, salary or fee as compensation for providing labor or services on the
			 production of the qualified production and included as a basis for calculating
			 the amount of transferable tax credit pursuant to
			 NRS
			 360.7591 to
			 360.7594, inclusive, and NAC
			 360.855 and 360.860;
(4)
			 A job summary for the qualified production, including, without limitation:
(I) An estimate of the number of jobs that
			 will be created in this State by the qualified production;
(II) The total anticipated terms of
			 employment for the estimated number of jobs that will be created in this State
			 by the qualified production;
(III)
			 The total anticipated wages to be paid for the estimated number of jobs that
			 will be created in this State by the qualified production; and
(IV) The total anticipated fringe benefits to
			 be provided for the estimated number of jobs that will be created in this State
			 by the qualified production;
(5) The capital investment in this State
			 proposed to be made in connection with the qualified production, if
			 applicable;
(6) The anticipated
			 location of real property and equipment and other tangible personal property in
			 this State, if applicable;
(7) An
			 acknowledgment of audit procedures on a form prescribed by the
			 Office;
(8) An acknowledgment of
			 the requirements of paragraph (g) of subsection 3 of
			 NRS
			 360.759; and
(9) Any other information required by the
			 application form prescribed by the Office.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.835 - Certificate of eligibility: Duties of Office; hearing; order approving application; factors for determining whether qualified production is in economic interest of State

Current through June 11, 2024
1. Upon receipt of
			 a completed application for a certificate of eligibility submitted pursuant to
			 paragraph (a) of subsection 2 of NAC
			 360.830 and the information
			 required by paragraph (b) of subsection 2 of NAC
			 360.830, the staff of the Office
			 shall:
(a) Evaluate the application and
			 supporting information; and
(b)
			 Prepare a proposed order containing a recommendation of whether to grant or
			 deny approval of the application and an estimate of the amount of transferable
			 tax credits available to the applicant if a certificate of eligibility is
			 issued.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.840 - Certificate of eligibility: Executive Director may request additional records; certification of audit

Current through June 11, 2024
1. The Executive
			 Director may request that a production company that produces a qualified
			 production for which a certificate of eligibility has been issued furnish him
			 or her with copies of any records necessary to verify that the production
			 company is eligible for a certificate of transferable tax credits, including,
			 without limitation, information concerning the progress of the qualified
			 production. The Office may deny the issuance of a certificate of transferable
			 tax credits if the production company fails to provide any records in
			 compliance with this subsection.
2.
			 Not later than 270 days after completion of a qualified production, unless the
			 Office agrees to extend this period by not more than 90 days, a production
			 company that produces a qualified production for which a certificate of
			 eligibility has been issued shall submit to the Office:
(a) An audit of the qualified production, in
			 a form approved by the Office, which:
(1)
			 Includes, without limitation, an itemized report of qualified expenditures and
			 production costs;
(2) Shows that
			 the qualified production incurred qualified expenditures and production costs
			 in this State of $500,000 or more;
(3) Includes a declaration of residency on a
			 form prescribed by the Office for any above-the-line personnel and
			 below-the-line personnel whom the production company claims to be a Nevada
			 resident; and
(4) Is certified by
			 an independent certified public accountant in this State who is approved by the
			 Office; and
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.845 - Issuance of transferable tax credits; notice of transfer

Current through June 11, 2024
1. Within 60 business days after receipt of
			 the audit of the qualified production required by paragraph (a) of subsection 2
			 of NAC 360.840 and any other financial
			 data, accountings or other information required by the Office pursuant to
			 paragraph (b) of subsection 2 of NAC
			 360.840, the Office will
			 determine whether to certify the audit and will make a final determination of
			 whether to issue a certificate of transferable tax credits. If the Office
			 determines that it will certify the audit, the Office will notify the
			 production company that produced the qualified production of the certification
			 of the audit and the Office's intent to issue transferable tax
			 credits.
2. Not later than 30 days
			 after receipt of notice of the Office's intent to issue transferable tax
			 credits, the production company that produced the qualified production must
			 submit to the Office an irrevocable declaration of the amount of transferable
			 tax credits that will be applied to each tax or fee set forth in subsection 1
			 of NRS
			 360.759.
3. Upon receipt of the declaration required
			 by subsection 2, the Office will issue a certificate of transferable tax
			 credits in the amount approved by the Office for the fees and taxes set forth
			 in the declaration. The Office will notify the Department and the Nevada Gaming
			 Control Board of all transferable tax credits issued by the Office, as set
			 forth in subsection 6 of
			 NRS
			 360.759.
4. Before transferring tax credits for which
			 a certificate of transferable tax credits has been issued, the production
			 company that produced the qualified production, or any subsequent purchaser of
			 the transferable tax credits, must provide to the Office written notice of the
			 proposed transfer on a form prescribed by the Office. The notice must include,
			 without limitation:
(a) Contact information
			 for the current holder of the transferable tax credits represented by the
			 certificate of transferable tax credits and the person to whom the transferable
			 tax credits will be transferred;
(b) The current state of residence of the
			 current holder of the transferable tax credits represented by the certificate
			 of transferable tax credits and the person to whom the transferable tax credits
			 will be transferred;
(c) Whether
			 the transfer is occurring through a broker and, if so, the name of the broker
			 and any fees paid in connection with the transfer;
(d) The dollar amount of the transferable tax
			 credits to be transferred;
(e) The
			 amount of compensation received by the seller of the transferable tax credits
			 from the purchaser of the transferable tax credits; and
(f) The proposed date of the
			 transfer.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.847 - Issuance, transfer and application of transferable tax credits: Required notices to Department

Current through June 11, 2024
1. If the Office
			 certifies the audit provided by a production company pursuant to paragraph (a)
			 of subsection 2 of NAC
			 360.840 and determines that all
			 other requirements for transferable tax credits have been met, at the same time
			 that the Office notifies the production company that transferable tax credits
			 will be issued, the Office shall notify the Department that the transferable
			 tax credits will be issued. The notice must provide the name of the production
			 company and the amount of transferable tax credits that will be
			 issued.
2. Upon receipt of the
			 irrevocable declaration filed by a production company pursuant to subsection 6
			 of NRS
			 360.759 to declare the amount of transferable
			 tax credits that will be applied to each tax or fee set forth in subsection 1
			 of NRS
			 360.759, the Office shall forward to the
			 Department a copy of the certificate of transferable tax credits which:
(a) Identifies the amount of transferable tax
			 credits to be applied to the taxes imposed by chapters 363A, 363B and 680B of
			 NRS, segregated by the amount of credit to be applied to each of those taxes;
			 and
(b) Accounts for all of the
			 credits which will be applied to those taxes.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.850 - Apportionment of transferable tax credits

Current through June 11, 2024
The Office may apportion the amount of transferable tax credits
				available in a fiscal year, as determined pursuant to NRS
				NRS
				360.7594, to periods within that fiscal year
				as the Office deems advisable.
Added to NAC by Office
				of Economic Dev. by R120-13, eff. 12-23-2013
NRS
				  360.759
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.855 - Calculation of amount of transferable tax credits: Qualified expenditures and production costs eligible to serve as basis for calculation

Current through June 11, 2024
1. For the purpose of calculating the amount
			 of transferable tax credits available to an eligible production company
			 pursuant to NRS
			 360.7591 to
			 360.7594, inclusive, except as
			 otherwise provided in subsection 3, qualified expenditures and production costs
			 that may serve as a basis for transferable tax credits must:
(a) Be expenditures made during the qualified
			 production period;
(b) Be customary
			 and reasonable;
(c) Relate to a
			 category of qualified expenditures and costs listed in subsection 2;
			 and
(d) Be:
(1) Purchases or rentals of tangible personal
			 property or services from a Nevada business.
(2) The payroll for Nevada residents or other
			 personnel who provided services in this State, as calculated pursuant to NAC
			 360.860 and included in the
			 calculation of the amount of transferable tax credits in accordance with
			 NRS
			 360.7591 to
			 360.7594, inclusive.
(3) Fees paid to a producer, as included in
			 the calculation of the amount of transferable tax credits in accordance with
			 subsection 3 of NRS
			 360.7594.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.860 - Calculation of amount of transferable tax credits: Expenditures for wages and salaries

Current through June 11, 2024
1. For the purpose
			 of calculating the amount of transferable tax credits available to an eligible
			 production company pursuant to
			 NRS
			 360.7591 to
			 360.7594, inclusive,
			 expenditures for wages and salaries, including fringe benefits, paid to Nevada
			 residents or other personnel who provided services in this State may be
			 included in the calculation:
(a) Only if the
			 expenditures are qualified expenditures and production costs that may serve as
			 a basis for transferable tax credits in accordance with
			 NRS
			 360.7591 to
			 360.7594, inclusive, and NAC
			 360.855 and section 3.
(b) Only if the amount, including wages and
			 salaries, fringe benefits, per diems and other fees, does not exceed
			 $750,000.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR FILM AND OTHER PRODUCTIONS › Section 360.865 - Reduction or withholding of credits under certain circumstances; repayment of amount of credits under certain circumstances; circumstances under which Office will not require forfeiture of credits purchased in good faith

Current through June 11, 2024
1. In calculating the amount of transferable
			 tax credits available to an eligible production company pursuant to
			 NRS
			 360.7591 to
			 360.7594, inclusive, the Office
			 may:
(a) Reduce the cumulative amount of
			 transferable tax credits that are calculated pursuant to
			 NRS
			 360.7591 to
			 360.7594, inclusive, and NAC
			 360.855 and
			 360.860 and section 3 by an
			 amount equal to any damages incurred by the State or any political subdivision
			 of this State as a result of a qualified production that is produced in this
			 State.
(b) Withhold transferable
			 tax credits, in whole or in part:
(1) Until
			 any pending legal action in this State against a production company or
			 involving a qualified production is resolved.
(2) If a production company is found to have
			 violated any state or local law.
(3) If a production company is found to have
			 submitted any false statement, representation or certification in any document
			 submitted for the purpose of obtaining transferable tax credits.
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING › Section 360.870 - Definitions

Current through June 11, 2024
As used in NAC
				360.870 to
				360.896, inclusive, unless the
				context otherwise requires, the words and terms defined in NAC
				360.875 to
				360.886, inclusive, have the
				meanings ascribed to them in those sections.
Added to NAC by
				Tax Comm'n by R074-20, eff. 4/11/2022
NRS 360.090,
				  360.867
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING › Section 360.875 - "Division" defined

Current through June 11, 2024
" Division" means the Housing Division of the Department of
				Business and Industry.
Added to NAC by
				Tax Comm'n by R074-20, eff. 4/11/2022
NRS 360.090,
				  360.867
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING › Section 360.880 - "Project sponsor" defined

Current through June 11, 2024
" Project sponsor" has the meaning ascribed to it in
				NRS
				360.865.
Added to NAC by
				Tax Comm'n by R074-20, eff. 4/11/2022
NRS 360.090,
				  360.867
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING › Section 360.884 - "Transferable tax credits" defined

Current through June 11, 2024
"Transferable tax credits" means transferable tax credits
				issued by the Division pursuant to
				NRS
				360.867.
Added to NAC by
				Tax Comm'n by R074-20, eff. 4/11/2022
NRS 360.090,
				  360.867
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING › Section 360.886 - "Transferee" defined

Current through June 11, 2024
"Transferee" means a person to whom transferable tax credits
				have been or will be transferred.
Added to NAC by
				Tax Comm'n by R074-20, eff. 4/11/2022
NRS 360.090,
				  360.867
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING › Section 360.890 - Requirements for notification by Division to Department of issuance or transfer of transferable tax credits

Current through June 11, 2024
A notification by the Division to the Department of the
				issuance or transfer of transferable tax credits pursuant to subparagraph (3)
				of paragraph (b) of subsection 6 of
				NRS
				360.867 must be in writing and include, as
				applicable and without limitation:
1.
			 Contact information for both the current holder of the transferable tax credits
			 and for each transferee, including, without limitation:
(a) The name, telephone number and electronic
			 mail address of the current holder and of each transferee; and
(b) The taxpayer identification number issued
			 by the Department for the current holder and for each transferee;
Nevada Administrative Code › Chapter 360 - Revenue and Taxation: Generally › TRANSFERABLE TAX CREDITS FOR AFFORDABLE HOUSING › Section 360.894 - Application of transferable tax credits to amount of taxes due: Offset; information on quarterly tax return; limitation

Current through June 11, 2024
1. A
			 holder of transferable tax credits who is applying such credits to an amount of
			 taxes due pursuant to chapter 363A, 363B or 680B of NRS shall offset the amount
			 of such taxes due to the extent of the amount of the transferable tax credits.
			 The holder shall include with his or her quarterly tax return a form prescribed
			 by the Department that specifies:
(a) Each
			 type of tax to which the transferable tax credits will be applied; and
(b) The amount of transferable tax
			 credits that will be applied to the taxes due for each type of tax specified in
			 paragraph (a).