NRS 374.356 Abatement for eligible machinery or equipment used at new or expanded data center. [Effective through December 31, 2056.]
286 words·~1 min read·
/nv/chapter-374-local-school-support-tax/374-356·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 374.356 Abatement for eligible machinery or equipment used at new or expanded data center. [Effective through December 31, 2056.]
1. A person who intends to locate or expand a data center in this State may, pursuant to NRS 360.754 , apply to the Office of Economic Development for a partial abatement from the taxes imposed by this chapter on the gross receipts from the sale, and the storage, use or other consumption, of eligible machinery or equipment for use at a data center which has been approved for a partial abatement pursuant to NRS 360.754 .
2. If an application for a partial abatement is approved:
(a)For an applicant seeking an abatement pursuant to paragraph
(d)of subsection 2 of NRS 360.754 , the data center and any colocated business is eligible for an abatement from the tax imposed by this chapter for a period of not more than 10 years.
(b)For an applicant seeking an abatement pursuant to paragraph
(e)of subsection 2 of NRS 360.754 , the data center and any colocated business is eligible for an abatement from the tax imposed by this chapter for a period of not more than 20 years.
(c)The abatement must be administered and carried out in the manner set forth in NRS 360.754 .
3. As used in this section:
(a)“Colocated business” has the meaning ascribed to it in NRS 360.754 .
(b)“Data center” has the meaning ascribed to it in NRS 360.754 .
(c)“Eligible machinery or equipment” means machinery or equipment necessary to and specifically related to the business of the data center or colocated business. The term does not include vehicles, buildings or the structural components of buildings.