Nev. Admin. Code § 361.326 — 361.326

NAC 361.326    “Investment tax credit” defined. ( NRS
360.090 , 361.320 )    “Investment tax credit”
means a federal income tax incentive intended to encourage capital investment.
It is a permanent forgiveness of income tax liability through the direct reduction
of tax liability for the year in which it is utilized. The amount of tax credit
has varied, but it is a percentage of the investment in the qualified plant,
with limits for the amount of tax reduction including carry-back or
carry-forward features. The investment tax credit was repealed for property
placed in service after December 31, 1985.
[Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]—(NAC
A 9-30-88)