Nev. Admin. Code § 360.Sec. 16
Current through October 11, 2024
A business entity's method of accounting for gross revenue for a taxable year for the purposes of determining the amount of the mining education tax owed by the business entity must be the same as the business's method of accounting for federal income tax purposes for the business's federal taxable year which includes that calendar quarter. If a business entity's method of accounting for federal income tax purposes changes, its method of accounting for gross revenue pursuant to sections 2 to 40, inclusive, of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at pages 1269-79 (NRS 363D.010-363D.310, inclusive), must be changed accordingly.
Nev. Admin. Code § 360.Sec. 16