NRS 361.159
Exempt personal property subject to taxation if used in business conducted for profit

  • exceptions.

1.

Except as otherwise provided in subsection 3, when personal property, or a portion of personal property, which for any reason is exempt from taxation is leased, loaned or otherwise made available to and used by a natural person, association or corporation in connection with a business conducted for profit, the leasehold interest, possessory interest, beneficial interest or beneficial use of any such lessee or user of the property is subject to taxation to the extent the:

(a)

Portion of the property leased or used; and

(b)

Percentage of time during the fiscal year that the property is leased to the lessee or used by the user, in accordance with NRS 361.2275,
Ê can be segregated and identified. The taxable value of the interest or use must be determined in the manner provided in subsection 3 of NRS 361.227 and in accordance with NRS 361.2275.

2.

Taxes must be assessed to lessees or users of exempt personal property and collected in the same manner as taxes assessed to owners of other personal property, except that taxes due under this section do not become a lien against the personal property. When due, the taxes constitute a debt due from the lessee or user to the county for which the taxes were assessed and, if unpaid, are recoverable by the county in the proper court of the county.

3.

The provisions of this section do not apply to personal property:

(a)

Used in vending stands operated by persons who are blind under the auspices of the Bureau of Services to Persons Who Are Blind or Visually Impaired of the Rehabilitation Division of the Department of Employment, Training and Rehabilitation.

(b)

Owned by a public airport and used for the purposes of the public airport.
Exemption of Personal Property in Transit (Free Port)

Source: Section 361.159 — Exempt personal property subject to taxation if used in business conducted for profit; exceptions., https://www.­leg.­state.­nv.­us/NRS/NRS-361.­html#NRS361Sec159.

361.045
Taxable property. 361.050
United States property exempted. 361.055
Exemption of state lands and property generally 361.060
Property of counties, cities, towns, Nevada Rural Housing Authority and certain other political subdivisions exempted. 361.061
Property related to public use of privately owned airport exempted 361.062
Property of trusts for furtherance of public functions exempted. 361.065
Property of school districts and charter schools exempted. 361.067
Vehicles exempted. 361.068
Business inventories and consumables, livestock, bees, certain pipe and agricultural equipment, boats, campers, fine art for public display and certain personal property of nonresidents exempted 361.069
Household goods and furniture exempted 361.070
Drainage ditches, canals and irrigation systems exempted. 361.073
Property of water users’ nonprofit associations and nonprofit cooperative corporations exempted. 361.075
Exemption of unpatented mines and mining claims. 361.077
Exemption of property used for control of air or water pollution. 361.078
Exemption of residential property containing shelter protecting against radioactive fallout. 361.080
Exemption of property of surviving spouses. 361.082
Exemption of portions of qualified low-income housing projects. 361.083
Exemption of certain property and buildings used for care or relief of orphan children, or of sick, infirm or indigent persons. 361.084
Exemption of single-family residence that replaces single-family residence partially or completely destroyed in certain emergencies or disasters. 361.085
Exemption of property of persons who are blind. 361.086
Exemption of certain property used for housing elderly persons or persons with disabilities. 361.087
Exemption of residential improvements made to remove barriers to persons with disabilities. 361.088
Exemption of property of Nathan Adelson Hospice. 361.090
Veterans’ exemptions. 361.091
Exemption for veteran who has incurred service-connected disability and surviving spouse of such a veteran. 361.095
Exemptions of veterans’ organizations. 361.096
Exemption of certain property leased or rented to charter school. 361.098
Exemption of property of charitable foundations established by Board of Regents of University of Nevada. 361.099
Exemption of certain real and personal property leased or rented to Nevada System of Higher Education. 361.100
Exemption of property of university fraternities and sororities. 361.105
Exemptions of nonprofit private schools. 361.106
Exemption of property of certain apprenticeship programs. 361.107
Exemption of property of Pershing County Kids, Horses, Rodeo Inc. 361.110
Exemptions of certain organizations. 361.111
Exemption of certain property of Archaeological Conservancy, Nature Conservancy, American Land Conservancy and Nevada Land Conservancy. 361.115
Exemptions of property of Nevada Children’s Foundation, Inc., Nevada Heritage Association, Inc., and Habitat for Humanity International. 361.125
Exemption of churches, chapels and land used exclusively for worship. 361.130
Exemption of public cemeteries and graveyards. 361.132
Exemption of certain private cemeteries and places of burial. 361.135
Exemptions of certain lodges, societies and similar charitable or benevolent organizations. 361.140
Exemptions of certain charitable corporations. 361.145
Exemptions of noncommercial theaters. 361.150
Exemptions of volunteer fire departments. 361.155
Exemptions: Filing of claims and designations 361.157
Exempt real estate subject to taxation if used as residence or in business conducted for profit 361.159
Exempt personal property subject to taxation if used in business conducted for profit 361.0605
Property related to public use of privately owned park exempted 361.0683
Partial abatement of taxes imposed on personal property located at new or expanded data center. 361.0687
Partial abatement of taxes imposed on certain new or expanded businesses. 361.0905
Waiver of veteran’s exemption 361.1565
Certain exemptions reduced to extent of exemption from governmental services tax.
Last Updated

Feb. 5, 2021

§ 361.159’s source at nv​.us