Nevada Administrative Code
Chapter 360 - Revenue and Taxation: Generally
ELECTRONIC SUBMISSION OF RETURNS AND REMISSION OF PAYMENTS
Section 360.Sec. 20 - NEW

Universal Citation: NV Admin Code 360.Sec. 20

Current through September 16, 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,

Added to NAC by Dep't of Taxation by R130-21A, eff. 2/23/2022

NRS 360.090, section 25 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1274 (NRS 363D.160)

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