Section 360.Sec. 20 - NEW1. Each business entity whose Nevada gross revenue in a taxable year exceeds $20,000,000 must file with the Department a Nevada Mining Education Tax Return for that taxable year pursuant to subsection 2 of section 25 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1274 (NRS 363D.160).2. A business entity's gross revenue is computed as provided in section 26 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1270 (NRS 363D.020) and a business entity is entitled to deductions from its gross revenue as provided in subsections 1 to 19, inclusive, of that section, which includes amounts for any gross revenue realized from the sale or transfer of a mineral other than gold or silver and any amount of any pass-through revenue of the business entity.3. Each business entity shall submit with the first Nevada Mining Education Tax Return filed with the Department a report that identifies each: (a) Location for which the business entity has been issued a permit to engage in a mining operation pursuant to NRS 519A.210; and(b) Geographically separate operation where gold or silver, or both, is extracted by the business entity for which a separate statement is filed pursuant to NRS 362.110,Nev. Admin. Code § 360.Sec. 20
Added to NAC by Dep't of Taxation by R130-21A, eff. 2/23/2022NRS 360.090, section 25 of Assembly Bill No. 495, chapter 249, Statutes of Nevada 2021, at page 1274 (NRS 363D.160)