Section 360.894 - Application of transferable tax credits to amount of taxes due: Offset; information on quarterly tax return; limitation1. A holder of transferable tax credits who is applying such credits to an amount of taxes due pursuant to chapter 363A, 363B or 680B of NRS shall offset the amount of such taxes due to the extent of the amount of the transferable tax credits. The holder shall include with his or her quarterly tax return a form prescribed by the Department that specifies: (a) Each type of tax to which the transferable tax credits will be applied; and (b) The amount of transferable tax credits that will be applied to the taxes due for each type of tax specified in paragraph (a).2. The amount of transferable tax credits claimed in a single tax return must not exceed the amount of tax due for that return.Nev. Admin. Code § 360.894
Added to NAC by Tax Comm'n by R074-20, eff. 4/11/2022