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Current as of January 01, 2025 | Updated by Findlaw Staff
1. In addition to the corporations defined by law to be charitable corporations there are hereby included:
(a) Any corporation whose objects and purposes are religious, educational or for public charity and whose funds have been derived in whole or substantial part from grants or other donations from governmental entities or donations from the general public, or both, not including donations from any officer or trustee of the corporation; and
(b) Any corporation prohibited by its articles of incorporation from declaring or paying dividends, and where the money received by it is devoted to the general purpose of charity and no portion of the money is permitted to inure to the benefit of any private person engaged in managing the charity, except reasonable compensation for necessary services actually rendered to the charity, and where indigent persons without regard to race, color, sexual orientation, or gender identity or expression may receive medical care and attention without charge or cost.
2. All buildings belonging to a corporation defined in subsection 1, together with the land actually occupied by the corporation for the purposes described and the personal property actually used in connection therewith, are exempt from taxation when used solely for the purpose of the charitable corporation.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 32. Revenue and Taxation § 361.140. Exemptions of certain charitable corporations - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-32-revenue-and-taxation/nv-rev-st-361-140/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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