Nev. Admin. Code § 362.35 — 362.35

NAC 362.035    Deductions: Interpretation of certain statutory terms. [Effective
through December 31, 2015.] ( NRS 360.090 , 362.120 )    For the
purposes of:
1.  Paragraph (j) of subsection 3 of NRS 362.120 , the Nevada Tax
Commission will interpret the term “developmental work” to have the meaning
ascribed to it in NAC 362.006 .
2.  Paragraph (c) of subsection 7 of NRS 362.120 , the Nevada Tax
Commission will interpret the term “costs of severing the employment of any
employees” to:
(a) Exclude, without limitation, the costs of:
(1) Any wages, salary or production bonuses
earned by an employee before the date of termination of his or her employment;
and
(2) Any pension benefits, vacation leave and
sick leave accrued by an employee before the date of termination of his or her
employment; and
(b) Except as otherwise provided in paragraph (a),
include, without limitation, the costs of any:
(1) Additional payments based on length of service;
(2) Cash bonuses;
(3) Stock options;
(4) Medical insurance, dental insurance and
life insurance;
(5) Payments made in lieu of a required period
of notice;
(6) Negotiated financial sums paid pursuant to
an agreement absolving the employer from any further liability to an employee;
(7) Voluntary redundancy packages offered by
an employer to attract volunteers to leave the employment of the employer; and
(8) Assistance in searching for new positions
of employment.
3.  Paragraph (f) of subsection 7 of NRS 362.120 , the Nevada Tax
Commission will interpret the term “mineral exploration” to have the meaning
ascribed to it in NAC 362.007 .
(Added to NAC by Tax Comm’n by R058-11, 12-30-2011,
eff. 1-1-2012; A by R058-11, 12-30-2011, eff. 1-1-2014)
NAC 362.035    Deductions:
Interpretation of certain statutory terms. [Effective January 1, 2016.] ( NRS 360.090 , 362.120 )    For the
purposes of:
1.  Paragraph (k) of subsection 3 of NRS 362.120 , the Nevada Tax
Commission will interpret the term “developmental work” to have the meaning
ascribed to it in NAC 362.006 .
2.  Paragraph (c) of subsection 7 of NRS 362.120 , the Nevada Tax
Commission will interpret the term “costs of severing the employment of any
employees” to:
(a) Exclude, without limitation, the costs of:
(1) Any wages, salary or production bonuses
earned by an employee before the date of termination of his or her employment;
and
(2) Any pension benefits, vacation leave and
sick leave accrued by an employee before the date of termination of his or her
employment; and
(b) Except as otherwise provided in paragraph (a),
include, without limitation, the costs of any:
(1) Additional payments based on length of
service;
(2) Cash bonuses;
(3) Stock options;
(4) Medical insurance, dental insurance and
life insurance;
(5) Payments made in lieu of a required period
of notice;
(6) Negotiated financial sums paid pursuant to
an agreement absolving the employer from any further liability to an employee;
(7) Voluntary redundancy packages offered by
an employer to attract volunteers to leave the employment of the employer; and
(8) Assistance in searching for new positions
of employment.
3.  Paragraph (f) of subsection 7 of NRS 362.120 , the Nevada Tax
Commission will interpret the term “mineral exploration” to have the meaning
ascribed to it in NAC 362.007 .
(Added to NAC by Tax Comm’n by R058-11, 12-30-2011,
eff. 1-1-2012; A by R058-11, 12-30-2011, eff. 1-1-2014)