Nevada Administrative Code
Chapter 362 - Taxes on Patented Mines and Proceeds of Minerals
PROCEEDS OF MINERALS
General Provisions
Section 362.060 - Deductions: Electric power
Universal Citation: NV Admin Code 362.060
Current through December 12, 2024
1. The installation of power and light lines is a capital charge, while the upkeep and purchase costs of electric power are operating costs.
2. When electric power is generated and distributed to various departments, the upkeep of the power plant must be written off, and the distribution of the power is an operating cost. New engines, boilers and similar equipment are chargeable to a capital account.
Tax Comm'n, Mine Proceeds Reg. No. 8, eff. 6-8-65; A and renumbered as Reg. No. 4, 1-22-79-NAC A by R048-01, 11-1-2001
NRS 360.090, 362.120
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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