Nevada § 374.357 - Abatement for eligible machinery or equipment used by certain new or expanded businesses
Full text of Nevada Nevada Revised Statutes § 374.357 — Abatement for eligible machinery or equipment used by certain new or expanded businesses, with citation guidance and answers to common questions.
§ 374.357. Abatement for eligible machinery or equipment used by certain new or expanded businesses
1. A person who maintains a business or intends to locate a business in this State
may, pursuant to NRS 360.750 , apply to the Office of Economic Development for an 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 by a business which has been
approved for an abatement pursuant to NRS 360.750 . 2. If an application for an abatement is approved pursuant to NRS 360.750 : (a) The taxpayer is eligible for an abatement from the tax imposed by this chapter
for not more than 2 years. (b) The abatement must be administered and carried out in the manner set forth in NRS 360.750 . 3. As used in this section, unless the context otherwise requires, “ eligible machinery or equipment ” means machinery or equipment for which a deduction is authorized pursuant to 26 U.S.C. § 179 . The term does not include: (a) Buildings or the structural components of buildings; (b) Equipment used by a public utility; (c) Equipment used for medical treatment; (d) Machinery or equipment used in mining; or (e) Machinery or equipment used in gaming.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 374.357
What does Nevada Revised Statutes § 374.357 cover?
Section 374.357 ("Abatement for eligible machinery or equipment used by certain new or expanded businesses") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 374.357?
A common citation format is "Nevada Revised Statutes § 374.357" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 374.357 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.