Nevada § 78.245 Corporate stocks, bonds and securities not taxed when owned by nonresidents or foreign corporations; exceptions

Nevada Statutes

§ 78.245 — Corporate stocks, bonds and securities not taxed when owned by nonresidents or foreign corporations; exceptions

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 78 Private· STOCK AND OTHER SECURITIES; DISTRIBUTIONS

1.Except as otherwise provided in subsection 2, no stocks, bonds or other securities issued by any corporation organized under this chapter, nor the income or profits therefrom, nor the transfer thereof by assignment, descent, testamentary disposition or otherwise, shall be taxed by this State when such stocks, bonds or other securities shall be owned by nonresidents of this State or by foreign corporations.

2.The provisions of subsection 1 do not apply to the commerce tax imposed pursuant to chapter 363C of NRS or the tax imposed pursuant to chapter 363D of NRS.

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1. Except as otherwise provided in subsection 2, no stocks, bonds or other securities issued by any corporation organized under this chapter, nor the income or profits therefrom, nor the transfer thereof by assignment, descent, testamentary disposition or otherwise, shall be taxed by this State when such stocks, bonds or other securities shall be owned by nonresidents of this State or by foreign corporations.
2. The provisions of subsection 1 do not apply to the commerce tax imposed pursuant to chapter 363C of NRS or the tax imposed pursuant to chapter 363D of NRS.

Nevada § 78.245 (Corporate stocks, bonds and securities not taxed when owned by nonresidents or foreign corporations; exceptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.