Section 360.Sec. 18 - NEW1. Except as otherwise provided in subsection 3 and 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), for the purposes of the mining education tax, a person or other entity is a business entity if the person is: (a) An entity organized pursuant to title 7 of NRS or another equivalent statute of this State or another jurisdiction, other than an entity organized pursuant to chapter 82 or 84 of NRS.(b) A partnership governed by chapter 87 of NRS or another equivalent statute of this State or another jurisdiction.(c) A registered limited-liability partnership registered with the Secretary of State pursuant to NRS 87.440 to 87.500, inclusive.(d) A business association.(e) A joint venture, except a joint operating or co-ownership arrangement which meets the requirements of 26 C.F.R. § 1.761-2(a)(3), Treas. Reg. § 1.761-2(a)(3), that elects out of federal partnership treatment as provided by 26 U.S.C. § 761(a).(f) A joint stock company.(h) A natural person who is required to file with the Internal Revenue Service a: (1) Schedule C (Form 1040), Profit or Loss from Business, or its equivalent or successor form;(2) Schedule E (Form 1040), Supplemental Income and Loss, or its equivalent or successor form, if an activity of the natural person is reported on Part I of that Schedule; or(3) Schedule F (Form 1040), Profit or Loss from Farming, or its equivalent or successor form.(i) Any other person engaging in a business of extracting and selling gold or silver or both in this State.2. For the purpose of determining whether a person or other entity is a business entity, a person or other entity is not a business entity if the person or entity is listed in subsection 2 of section 4 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1269 (NRS 363D.020), regardless of whether the person or entity is engaging in a business of extracting and selling gold or silver or both in this State.3. As used in this section: (a) "Holding company" means an entity that confines its activities to owning stock in, and supervising management of, other companies.(b) "Joint stock company" means a common-law unincorporated business enterprise of natural persons possessing common capital with ownership interests represented by shares of stock.(c) "Joint venture" means a partnership engaged in the joint prosecution of a particular transaction for mutual profit.Nev. Admin. Code § 360.Sec. 18
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)