NRS 361.228
Intangible personal property: Exemption from taxation

  • prohibition against consideration of value
  • consideration of attributes of real property.

1.

All intangible personal property is exempt from taxation, including, without limitation:

(a)

Shares of stock, bonds, mortgages, notes, bank deposits, virtual currencies, book accounts such as an acquisition adjustment and credits, and securities and choses in action of like character; and

(b)

Goodwill, customer lists, contracts and contract rights, patents, trademarks, trade names, custom computer programs, copyrights, trade secrets, franchises and licenses.

2.

The value of intangible personal property must not enhance or be reflected in the value of real property or tangible personal property.

3.

The attributes of real property, such as zoning, location, water rights, view and geographic features, are not intangible personal property and must be considered in valuing the real property, if appropriate.

4.

As used in this section:

(a)

“Public blockchain” means an electronic record of transactions or other data which:

(1)

Is uniformly ordered;

(2)

Is processed using a decentralized method by which two or more unaffiliated computers or machines verify the recorded transactions or other data;

(3)

Is redundantly maintained by two or more unaffiliated computers or machines to guarantee the consistency or nonrepudiation of the recorded transactions or other data;

(4)

Is validated by the use of cryptography; and

(5)

Does not restrict the ability of any computer or machine to:
(I) View the network on which the record is maintained; or
(II) Maintain or validate the state of the public blockchain.

(b)

“State of the public blockchain” means the cumulative record of data on a public blockchain, consisting of the first block of the public blockchain, all finalized transactions on the public blockchain and all block rewards recorded on the public blockchain.

(c)

“Unaffiliated computers or machines” means computers or machines that are not under common ownership or control.

(d)

“Virtual currency” means a digital representation of value that:

(1)

Is created, issued and maintained on a public blockchain;

(2)

Is not attached to any tangible asset or fiat currency;

(3)

Is accepted as a means of payment; and

(4)

May only be transferred, stored or traded electronically.

Source: Section 361.228 — Intangible personal property: Exemption from taxation; prohibition against consideration of value; consideration of attributes of real property., https://www.­leg.­state.­nv.­us/NRS/NRS-361.­html#NRS361Sec228.

361.225
Rate of assessment. 361.227
Determination of taxable value. 361.228
Intangible personal property: Exemption from taxation 361.229
Adjustment of actual age of improvements in computation of depreciation. 361.233
Assessment and valuation of real property within common-interest community. 361.235
Assessment of corporate stock and property of partnership 361.240
Assessment of undivided property of deceased and insane persons 361.244
Classification of mobile or manufactured homes and factory-built housing as real property. 361.245
Personal property subject to security interest. 361.260
Method of assessing property for taxation 361.261
Determination of assessed value of property that is not being reappraised: Adoption of factors for improvements. 361.263
Issuance of subpoenas by county assessors 361.265
Written statement concerning personal property: Demand 361.275
Liability of county assessor for taxes not assessed through willful or inexcusable neglect 361.280
District attorney to report unassessed property to county commissioners 361.295
Assessment of real property by two counties: Examination and determination by Department. 361.300
Time and manner for completion of secured tax roll 361.305
Preparation by county assessor of maps or plats of city blocks and subdivisions. 361.310
Time and manner for completion of assessment roll 361.2275
Determination of status of property as leased or used. 361.2285
Adoption of regulations regarding use of income approach for valuation of real property used to conduct business. 361.2445
Conversion of mobile or manufactured home from real to personal property.
Last Updated

Jun. 24, 2021

§ 361.228’s source at nv​.us