Nev. Rev. Stat. § 363D.010
Definitions
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 363D.015 to 363D.100, inclusive, have the meanings ascribed to them in those sections.
Nevada Revised Statutes Chapter 363D — Tax on Gross Revenue of Gold and Silver Mining Businesses
Nevada · statute · Nev. Rev. Stat. ch. 363D · 39 active provisions
Provisions
Nev. Rev. Stat. § 363D.015
“Business” defined
“Business” means any activity engaged in or caused to be engaged in with the object of gain, benefit or advantage, either direct or indirect, to any person or governmental entity.
Nev. Rev. Stat. § 363D.020
“Business entity” defined
1. Except as otherwise provided in subsection 2, “business entity” means a corporation, partnership, proprietorship, limited-liability company, business association, joint venture, limited-liability partnership, business trust, professional association, joint stock company, holding company and any other person engaged…
Nev. Rev. Stat. § 363D.025
“Commission” defined
“Commission” means the Nevada Tax Commission.
Nev. Rev. Stat. § 363D.030
“Credit sales” defined
“Credit sales” means a sale of goods by a seller who accepts payments for the goods at a later time.
Nev. Rev. Stat. § 363D.035
“Engaging in a business” defined
“Engaging in a business” means commencing, conducting or continuing a business, the exercise of corporate or franchise powers regarding a business, and the liquidation of a business which is or was engaging in a business when the liquidator holds itself out to the public as conducting that business.
Nev. Rev. Stat. § 363D.040
“Gold” and “silver” defined
“Gold” and “silver” include, respectively, without limitation: 1. Gold-bearing and silver-bearing ores, quartz or minerals from which gold and silver are extracted; 2. Gold and silver bullion; and 3. The products or derivatives of gold and silver.
Nev. Rev. Stat. § 363D.045
“Governmental entity” defined
“Governmental entity” means: 1. The United States and any of its unincorporated agencies and instrumentalities. 2. Any incorporated agency or instrumentality of the United States wholly owned by the United States or by a corporation wholly owned by the United States. 3. The State of Nevada and any of its unincorporated…
Nev. Rev. Stat. § 363D.050
“Gross revenue” defined
1. Except as otherwise provided in subsection 3, “gross revenue” means the total amount realized by a business entity from engaging in a business in this State, without deduction for the cost of goods sold or other expenses incurred, that contributes to the production of gross income, including, without limitation, the…
Nev. Rev. Stat. § 363D.055
“Loan” defined
“Loan” means any extension of credit or the purchase in whole or in part of an extension of credit from another person, including, without limitation, participations and syndications.
Nev. Rev. Stat. § 363D.060
“Nevada gross revenue” defined
“Nevada gross revenue” means the gross revenue of a business entity from engaging in a business in this State, as adjusted pursuant to NRS 363D.170 and sitused to this State pursuant to NRS 363D.180.
Nev. Rev. Stat. § 363D.065
“Pass-through entity” defined
“Pass-through entity” means an entity that is disregarded as an entity for the purposes of federal income taxation or is treated as a partnership for the purposes of federal income taxation.
Nev. Rev. Stat. § 363D.070
“Pass-through revenue” defined
1. “Pass-through revenue” means: (a) Revenue received by a business entity that is required by law or fiduciary duty to be distributed to another person or governmental entity; (b) Taxes collected from a third party by a business entity and remitted by the business entity to a taxing authority; (c) Reimbursement for ad…
Nev. Rev. Stat. § 363D.075
“Sale of gold or silver” defined
“Sale of gold or silver” means a sale or transfer of gold or silver in exchange for consideration by the business entity that extracted the gold, silver or gold-bearing or silver-bearing ore, quartz or mineral from which gold or silver is extracted.
Nev. Rev. Stat. § 363D.080
“Securities” defined
“Securities” means United States Treasury securities, obligations of United States governmental agencies and corporations, obligations of a state or political subdivision, corporate stock, bonds, participations in securities backed by mortgages held by the United States or state governmental agencies, loan-backed secur…
Nev. Rev. Stat. § 363D.085
“Taxable year” defined
“Taxable year” means the 12-month period beginning on January 1 and ending on December 31 of a calendar year.
Nev. Rev. Stat. § 363D.090
“Taxpayer” defined
“Taxpayer” means any person liable for the tax imposed by this chapter.
Nev. Rev. Stat. § 363D.100
“Wages” defined
“Wages” means any remuneration paid for personal services, including, without limitation, commissions and bonuses, and remuneration payable in any medium other than cash.
Nev. Rev. Stat. § 363D.110
References to Internal Revenue Code
For the purposes of this chapter, unless otherwise indicated, section references are to the Internal Revenue Code of 1986, as amended, and include future amendments to such sections and corresponding provisions of future federal internal revenue laws.
Nev. Rev. Stat. § 363D.120
Businesses constituting passive entities
1. For the purposes of this chapter, a business is a “passive entity” only if: (a) The business is a limited-liability company, general partnership, limited-liability partnership, limited partnership or limited-liability limited partnership, or a trust, other than a business trust; (b) During the period for which the g…
Nev. Rev. Stat. § 363D.130
Duties of Department
The Department shall administer and enforce the provisions of this chapter and may adopt such regulations as it deems appropriate for those purposes.
Nev. Rev. Stat. § 363D.140
Maintenance and availability of records of taxpayer; regulations; penalty
1. Each person responsible for maintaining the records of a taxpayer shall: (a) Keep such records as may be necessary to determine the amount of the liability of the taxpayer pursuant to the provisions of this chapter; (b) Preserve those records for 4 years or until any litigation or prosecution pursuant to this chapte…
Nev. Rev. Stat. § 363D.150
Examination of records by Department; payment of expenses of Department for examination of records outside this State
1. To verify the accuracy of any return filed or, if no return is filed by a taxpayer, to determine the amount of the tax required to be paid pursuant to this chapter, the Department, or any person authorized in writing by the Department, may examine the books, papers and records of any person who may be liable for the…
Nev. Rev. Stat. § 363D.160
Imposition; payment of tax; filing of return; extension of time for payment; payment of interest during period of extension
1. For the privilege of engaging in a business in this State, an excise tax is hereby imposed upon the Nevada gross revenue of each business entity whose Nevada gross revenue in a taxable year exceeds $20,000,000, which shall be at the following rates: (a) For all Nevada gross revenue in a taxable year in excess of $20…
Nev. Rev. Stat. § 363D.170
Deductions from gross revenue
In computing the tax owed by a business entity pursuant to this chapter, the business entity is entitled to deduct from its gross revenue the following amounts, to the extent such amounts are included in the gross revenue of the business entity: 1. Any gross revenue which this State is prohibited from taxing pursuant t…
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