Section 360.Sec. 17 - NEW1. The mining education tax is a tax imposed on a business entity engaged in the business of extracting and selling gold or silver, or both, in this State on or after July 1, 2021. For the purposes of the mining education tax: (a) Gold or silver has the meaning ascribed to it in section 8 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1270 (NRS 363D.040) and includes, without limitation, dore bars, slurry and refined ore.(b) A business entity is engaged in the business of extracting gold or silver, or both, in this State if the business entity realizes any gross revenue during a taxable year from the sale of gold or silver, or both, extracted by the business entity in this State.2. To determine whether a business entity is engaged in the business of extracting gold or silver, or both, in this State, the Department must consider the activities of the business entity and not the activities of any other entity in which the business entity owns an interest.3. A business entity, including, without limitation, a joint venture, whose primary source of gross revenue is realized from the sale of gold or silver, or both, extracted in this State is not subject to the mining education tax if the gross revenue of the business entity from the sale of gold or silver, or both, extracted in this State is sourced to one or more subsidiaries of the business entity that the business entity owns or controls and that are subject to and pay the mining education tax. Any gross revenue realized by a business entity described in this subsection from any of its subsidiaries is pass-through revenue and is not subject to the mining education tax.Nev. Admin. Code § 360.Sec. 17
Added to NAC by Dep't of Taxation by R130-21A, eff. 2/23/2022NRS 360.090, section 4 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1269 (NRS 363D.020)