Section 360.845 - Issuance of transferable tax credits; notice of transfer1. Within 60 business days after receipt of the audit of the qualified production required by paragraph (a) of subsection 2 of NAC 360.840 and any other financial data, accountings or other information required by the Office pursuant to paragraph (b) of subsection 2 of NAC 360.840, the Office will determine whether to certify the audit and will make a final determination of whether to issue a certificate of transferable tax credits. If the Office determines that it will certify the audit, the Office will notify the production company that produced the qualified production of the certification of the audit and the Office's intent to issue transferable tax credits.2. Not later than 30 days after receipt of notice of the Office's intent to issue transferable tax credits, the production company that produced the qualified production must submit to the Office an irrevocable declaration of the amount of transferable tax credits that will be applied to each tax or fee set forth in subsection 1 of NRS 360.759.3. Upon receipt of the declaration required by subsection 2, the Office will issue a certificate of transferable tax credits in the amount approved by the Office for the fees and taxes set forth in the declaration. The Office will notify the Department and the Nevada Gaming Control Board of all transferable tax credits issued by the Office, as set forth in subsection 6 of NRS 360.759.4. Before transferring tax credits for which a certificate of transferable tax credits has been issued, the production company that produced the qualified production, or any subsequent purchaser of the transferable tax credits, must provide to the Office written notice of the proposed transfer on a form prescribed by the Office. The notice must include, without limitation:(a) Contact information for the current holder of the transferable tax credits represented by the certificate of transferable tax credits and the person to whom the transferable tax credits will be transferred;(b) The current state of residence of the current holder of the transferable tax credits represented by the certificate of transferable tax credits and the person to whom the transferable tax credits will be transferred;(c) Whether the transfer is occurring through a broker and, if so, the name of the broker and any fees paid in connection with the transfer;(d) The dollar amount of the transferable tax credits to be transferred;(e) The amount of compensation received by the seller of the transferable tax credits from the purchaser of the transferable tax credits; and(f) The proposed date of the transfer.Nev. Admin. Code § 360.845
Added to NAC by Office of Economic Dev. by R120-13, eff. 12-23-2013; A by R062-22A, eff. 2/13/2023