Nev. Rev. Stat. § 360.965 — Approval of application for abatement of taxes; duration of abatement; issuance of document certifying abatement of sales and use taxes. [Effective through June 30, 2036.]

NRS  360.965    Approval of application for abatement of taxes; duration of
abatement; issuance of document certifying abatement of sales and use taxes.
[Effective through June 30, 2036.]
1.  If the Office of Economic Development
approves an application for an abatement of property taxes, employer excise
taxes or local sales and use taxes submitted pursuant to paragraph (b) of
subsection 1 of NRS 360.945 , the Office
shall immediately forward a certificate of eligibility for the abatement of the
taxes described in that paragraph to:
(a) The Department;
(b) The Nevada Tax Commission; and
(c) The county treasurer of the county in which
the qualified project will be located.
2.  The abatement for the lead participant
in the qualified project must:
(a) For property taxes, be for a duration of not
more than 10 years after the date on which the application is submitted and in
an amount that equals the amount of the property taxes that would otherwise be
owed by each participant for the qualified project;
(b) For employer excise taxes, be for a duration
of not more than 10 years after the date on which the application is submitted
and in an amount that equals the amount of the employer excise taxes that would
otherwise be owed by each participant for employees employed by the participant
for the qualified project; and
(c) For local sales and use tax, be for a
duration of not more than 20 years after the date on which the application is
submitted and in an amount that equals the amount of the local sales and use
taxes that would otherwise be owed by each participant in the qualified
project.
3.  If the Office approves an abatement of
local sales and use taxes, the Office shall issue to the lead participant in the
qualified project a document certifying the abatement which can be presented to
retailers at the time of sale. The document must clearly state the rate of
sales and use taxes which the purchaser is required to pay in the county in
which the abatement is effective.