Nev. Admin. Code § 360.894 — 360.894

NAC 360.894    Application of transferable tax credits to amount of taxes due:
Offset; information on quarterly tax return; limitation. ( NRS 360.090 , 360.867 )
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).
2.  The amount of transferable tax credits
claimed in a single tax return must not exceed the amount of tax due for that
return.
(Added to NAC by Tax Comm’n by R074-20, eff. 4-11-2022)