Skip to main content
Find a Lawyer

Nevada Revised Statutes Title 32. Revenue and Taxation § 361.228. Intangible personal property: Exemption from taxation; prohibition against consideration of value; consideration of attributes of real property

Current as of January 01, 2025 | Updated by Findlaw Staff

1. All intangible personal property is exempt from taxation, including, without limitation:

(a) Shares of stock, bonds, mortgages, notes, bank deposits, virtual currencies, book accounts such as an acquisition adjustment and credits, and securities and choses in action of like character; and

(b) Goodwill, customer lists, contracts and contract rights, patents, trademarks, trade names, custom computer programs, copyrights, trade secrets, franchises and licenses.

2. The value of intangible personal property must not enhance or be reflected in the value of real property or tangible personal property.

3. The attributes of real property, such as zoning, location, water rights, view and geographic features, are not intangible personal property and must be considered in valuing the real property, if appropriate.

4. As used in this section:

(a) “Public blockchain” means an electronic record of transactions or other data which:

(1) Is uniformly ordered;

(2) Is processed using a decentralized method by which two or more unaffiliated computers or machines verify the recorded transactions or other data;

(3) Is redundantly maintained by two or more unaffiliated computers or machines to guarantee the consistency or nonrepudiation of the recorded transactions or other data;

(4) Is validated by the use of cryptography; and

(5) Does not restrict the ability of any computer or machine to:

(I) View the network on which the record is maintained; or

(II) Maintain or validate the state of the public blockchain.

(b) “State of the public blockchain” means the cumulative record of data on a public blockchain, consisting of the first block of the public blockchain, all finalized transactions on the public blockchain and all block rewards recorded on the public blockchain.

(c) “Unaffiliated computers or machines” means computers or machines that are not under common ownership or control.

(d) “Virtual currency” means a digital representation of value that:

(1) Is created, issued and maintained on a public blockchain;

(2) Is not attached to any tangible asset or fiat currency;

(3) Is accepted as a means of payment; and

(4) May only be transferred, stored or traded electronically.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Nevada Revised Statutes Title 32. Revenue and Taxation § 361.228. Intangible personal property: Exemption from taxation; prohibition against consideration of value; consideration of attributes of real property - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-32-revenue-and-taxation/nv-rev-st-361-228/

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.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard