Nev. Admin. Code § 361.326
Current through December 12, 2024
"Investment tax credit" means a federal income tax incentive intended to encourage capital investment. It is a permanent forgiveness of income tax liability through the direct reduction of tax liability for the year in which it is utilized. The amount of tax credit has varied, but it is a percentage of the investment in the qualified plant, with limits for the amount of tax reduction including carry-back or carry-forward features. The investment tax credit was repealed for property placed in service after December 31, 1985.
Nev. Admin. Code § 361.326
NRS 360.090, 361.320