Nev. Rev. Stat. § 360.7592 — Calculation of amount of credit: Base amount; additional amounts for employing residents as below-the-line personnel and filming in certain counties; Office of Economic Development authorized to reduce or withhold credits under certain circumstances

NRS  360.7592    Calculation of amount of credit: Base amount; additional amounts
for employing residents as below-the-line personnel and filming in certain
counties; Office of Economic Development authorized to reduce or withhold
credits under certain circumstances.
1.  Except as otherwise provided in
subsection 4 and NRS 360.7593 and 360.7594 , the base amount of transferable
tax credits issued to an eligible production company pursuant to NRS 360.759 must equal 15 percent of the
qualified direct production expenditures.
2.  Except as otherwise provided in
subsections 3 and 4 and NRS 360.7594 ,
in addition to the base amount calculated pursuant to subsection 1,
transferable tax credits issued to an eligible production company pursuant to NRS 360.759 must include credits in an amount
equal to:
(a) An additional 5 percent of the qualified
direct production expenditures if more than 50 percent of the below-the-line
personnel of the qualified production are Nevada residents; and
(b) An additional 5 percent of the qualified
direct production expenditures if more than 50 percent of the filming days of
the qualified production occurred in a county in this State in which, in each
of the 2 years immediately preceding the date of application, qualified
productions incurred less than $10,000,000 of qualified direct production
expenditures.
3.  For the purposes of paragraph (a) of
subsection 2:
(a) Except as otherwise provided in paragraph (b)
of this subsection, the percentage of the below-the-line personnel who are
Nevada residents must be determined by dividing the number of workdays worked
by Nevada residents by the number of workdays worked by all below-the-line
personnel.
(b) Any work performed by an extra must not be
considered in determining the percentage of the below-the-line personnel who
are Nevada residents.
4.  The Office may:
(a) Reduce the cumulative amount of transferable
tax credits that are calculated pursuant to this section by an amount equal to
any damages incurred by the State or any political subdivision of the State as
a result of a qualified production that is produced in this State; or
(b) Withhold the transferable tax credits, in
whole or in part:
(1) Until any pending legal action in this
State against a production company or involving a qualified production is
resolved.
(2) If a production company violates any
state or local law.
(3) If a production company is found to
have submitted any false statement, representation or certification in any
document submitted for the purpose of obtaining transferable tax credits.