2019 Nevada Revised Statutes
Chapter 360 - General Provisions
NRS 360.7592 - Calculation of amount of credit: Base amount; additional amounts for employing residents as below-the-line personnel and filming in certain counties; Office of Economic Development authorized to reduce or withhold credits under certain circumstances.

1. Except as otherwise provided in subsection 4 and NRS 360.7593 and 360.7594, the base amount of transferable tax credits issued to an eligible production company pursuant to NRS 360.759 must equal 15 percent of the qualified direct production expenditures.

2. Except as otherwise provided in subsections 3 and 4 and NRS 360.7594, in addition to the base amount calculated pursuant to subsection 1, transferable tax credits issued to an eligible production company pursuant to NRS 360.759 must include credits in an amount equal to:

(a) An additional 5 percent of the qualified direct production expenditures if more than 50 percent of the below-the-line personnel of the qualified production are Nevada residents; and

(b) An additional 5 percent of the qualified direct production expenditures if more than 50 percent of the filming days of the qualified production occurred in a county in this State in which, in each of the 2 years immediately preceding the date of application, qualified productions incurred less than $10,000,000 of qualified direct production expenditures.

3. For the purposes of paragraph (a) of subsection 2:

(a) Except as otherwise provided in paragraph (b) of this subsection, the percentage of the below-the-line personnel who are Nevada residents must be determined by dividing the number of workdays worked by Nevada residents by the number of workdays worked by all below-the-line personnel.

(b) Any work performed by an extra must not be considered in determining the percentage of the below-the-line personnel who are Nevada residents.

4. The Office may:

(a) Reduce the cumulative amount of transferable tax credits that are calculated pursuant to this section by an amount equal to any damages incurred by the State or any political subdivision of the State as a result of a qualified production that is produced in this State; or

(b) Withhold the transferable tax credits, in whole or in part, until any pending legal action in this State against a production company or involving a qualified production is resolved.

(Added to NRS by 2013, 3094; A 2015, 1105, 1109)