Nev. Rev. Stat. § 361.107 — Exemption of property of Pershing County Kids, Horses, Rodeo Inc

NRS  361.107    Exemption of property of Pershing County Kids, Horses, Rodeo
Inc.
1.  Except as otherwise provided in
subsection 2, all real and personal property of Pershing County Kids, Horses,
Rodeo Inc. in the State of Nevada is exempt from taxation.
2.  If any property exempt from taxation
pursuant to subsection 1 is used for any purpose other than carrying out the
legitimate functions of Pershing County Kids, Horses, Rodeo Inc., and a rent or
other valuable consideration is received for its use, the property must be
taxed, unless the rent or other valuable consideration is paid or given by an
organization that qualifies as a tax exempt organization pursuant to 26 U.S.C.
§ 501(c)(3).