NRS 360.7597
Repayment of amount of credit required under certain circumstances.

1.

A production company that is found to have submitted any false statement, representation or certification in any document submitted for the purpose of obtaining transferable tax credits or who otherwise becomes ineligible for transferable tax credits after receiving the transferable tax credits pursuant to NRS 360.759 shall repay to the Department or the Nevada Gaming Control Board, as applicable, any portion of the transferable tax credits to which the production company is not entitled.

2.

Transferable tax credits purchased in good faith are not subject to forfeiture or repayment by the transferee unless the transferee submitted fraudulent information in connection with the purchase.

Source: Section 360.7597 — Repayment of amount of credit required under certain circumstances., https://www.leg.state.nv.us/NRS/NRS-360.html#NRS360Sec7597.

360.758
Definitions. 360.759
Eligibility 360.7581
“Above-the-line personnel” defined. 360.7582
“Below-the-line personnel” defined. 360.7583
“Nevada business” defined. 360.7584
“Nevada resident” defined. 360.7585
“Production company” defined. 360.7586
“Qualified production” defined. 360.7589
Determination of whether employee is full-time equivalent employee. 360.7591
Calculation of amount of credit: Expenditures and costs eligible to serve as basis for calculation 360.7592
Calculation of amount of credit: Base amount 360.7593
Calculation of amount of credit: Rate of inclusion of wages and salaries paid to nonresidents when calculating base amount of credit. 360.7594
Limitation on amount of credits 360.7595
Procedure for hearing application 360.7596
Abatement of city or county permitting fee or licensing fee 360.7597
Repayment of amount of credit required under certain circumstances. 360.7598
Office of Economic Development required to submit annual report to Governor and Director of Legislative Counsel Bureau. 360.75855
“Qualified direct production expenditures” defined.

Last Updated

Feb. 5, 2021

§ 360.7597’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_360.7597

Original Source: Section 360.7597 — Repayment of amount of credit required under certain circumstances., https://www.leg.state.nv.us/NRS/NRS-360.html#NRS360Sec7597 (last accessed Feb. 5, 2021).