Nevada Administrative Code
Chapter 360 - Revenue and Taxation: Generally
PARTIAL ABATEMENT OF CERTAIN TAXES
Abatements for New or Expanded Business
Section 360.474 - Factors considered by Commission

Universal Citation: NV Admin Code 360.474

Current through September 16, 2024

1. The Commission will consider an application for a partial abatement if the goals of the applicant are consistent with the goals of the Commission concerning industrial development and diversification. The goals of the Commission include, without limitation:

(a) Diversification from the industries of gaming and hospitality;

(b) The attraction of basic industries to this State, including, without limitation, manufacturing, warehousing and distribution;

(c) The attraction to this State of business facilities and services, including, without limitation, corporate headquarters, facilities for research and development, and facilities for services such as technical assistance with products of the business or credit services; and

(d) The expansion of existing businesses and industries that are consistent with the goals described in paragraphs (a), (b) and (c).

2. Before the Commission approves an application for a partial abatement, the Commission will consider whether the applicant:

(a) Complies with the requirements set forth in NRS NRS 360.750;

(b) Commits to continue in operation in this State for:
(1) At least 5 years; or

(2) The period specified in the agreement executed by the applicant with the Commission pursuant to paragraph (b) of subsection 2 of NRS NRS 360.750,

whichever is later, after the date on which the applicant initially pays taxes to the Department or the county treasurer, as applicable, after the partial abatement has been approved by the Commission;

(c) Offers primary jobs; and

(d) If the application concerns a partial abatement of the taxes imposed pursuant to chapter 364A or 374 of NRS, registers with the Department on a form provided by the Department.

3. As used in this section, "primary job" means a position of employment offered by an applicant for a partial abatement, the compensation for which is obtained from revenue that is generated outside the economic region in which the business is located.

Added to NAC by Comm'n on Econ. Development by R050-01, eff. 11-9-2001

NRS 360.750, 361.0687, 364A.170, 374.357, 701A.210

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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