AB362

Nevada AB362 imposes a tax on the sale or transfer of a controlling interest in an entity with real property valued over $100.

Nevada AB362 introduces a tax on the sale or transfer of a controlling interest in any entity possessing an interest in real property valued over $100. The tax rate is set at $1.30 for each $500 of value, or fraction thereof, of the interest in real property. The bill requires the person conveying the interest to file a return and remit the tax to the Department of Taxation by the last day of the month following the month in which the sale or transfer occurs. The bill exempts certain transfers, such as those to the United States or between former spouses in compliance with a divorce decree.