Section 362.035 - Deductions: Interpretation of certain statutory termsFor the purposes of:
1. Paragraph (k) of subsection 3 of NRS 362.120, the Nevada Tax Commission will interpret the term "developmental work" to have the meaning ascribed to it in NAC 362.006.2. Paragraph (c) of subsection 7 of NRS 362.120, the Nevada Tax Commission will interpret the term "costs of severing the employment of any employees" to: (a) Exclude, without limitation, the costs of:(1) Any wages, salary or production bonuses earned by an employee before the date of termination of his or her employment; and(2) Any pension benefits, vacation leave and sick leave accrued by an employee before the date of termination of his or her employment; and(b) Except as otherwise provided in paragraph (a), include, without limitation, the costs of any: (1) Additional payments based on length of service;(4) Medical insurance, dental insurance and life insurance;(5) Payments made in lieu of a required period of notice;(6) Negotiated financial sums paid pursuant to an agreement absolving the employer from any further liability to an employee;(7) Voluntary redundancy packages offered by an employer to attract volunteers to leave the employment of the employer; and(8) Assistance in searching for new positions of employment.3. Paragraph (f) of subsection 7 of NRS 362.120, the Nevada Tax Commission will interpret the term "mineral exploration" to have the meaning ascribed to it in NAC 362.007.Nev. Admin. Code § 362.035
Added to NAC by Tax Comm'n by R058-11, 12-30-2011, eff. 1-1-2012; A by R058-11, 12-30-2011, eff. 1-1-2014