Nev. Admin. Code § 360.475 — 360.475

NAC 360.475    Business tax: Date of eligibility; determination of amount of
capital investment required; filing of form of compliance with proof of capital
investment. ( NRS
360.750 , 364A.170 )
1.  For the purposes of NRS 360.225 , to determine
eligibility for a partial abatement of the taxes imposed pursuant to chapter 364A of NRS,
a proposed or expanded business which qualifies as an employer pursuant to NRS 612.055 shall be deemed by the
Department to have begun operations in this State:
(a) If the business is a proposed business, on the
date on which the business first pays wages to an employee of the business who
performs services for the business in this State.
(b) If the business is an expanded business, on the
date on which the business first pays wages to an employee of the business who
was not employed by the business before the expansion.
2.  To determine the amount of capital
investment required pursuant to paragraph (d), (e) or (f) of subsection 2 of NRS 360.750 for a partial abatement
of the taxes imposed pursuant to chapter 364A of NRS:
(a) A capital investment shall be deemed to be any
expenditure for an asset that qualifies as “section 1245 property,” as defined
in 26 U.S.C. § 1245, if the asset will be used by the proposed business to
establish its operations in this State or by the expanded business to expand
its operations in this State; and
(b) The amount paid for such an asset, including
any capitalized interest, shall be deemed to be the amount of the capital
investment for that asset. Any finance charge, tax or interest paid for the
asset must not be included in the determination of the amount of the capital
investment for that asset.
3.  A business for which the Commission has
approved a partial abatement of the taxes imposed pursuant to chapter 364A of NRS
shall, not later than 30 days after the end of the first fourth quarter in
which the business has been in operation after the approval of the partial
abatement, file with the Department on a form prescribed by the Department, a
statement that the business has complied with the requirements of NRS 360.750 . The form must be
accompanied by proof that the business has made the capital investment required
by the Commission pursuant to NRS
360.750 .
(Added to NAC by Tax Comm’n by R109-01, eff. 5-13-2002)