Nevada Revised Statutes 361.7366 – ‘Income’ defined
‘Income’ means adjusted gross income, as defined in the Internal Revenue Code, and includes:
Terms Used In Nevada Revised Statutes 361.7366
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Department: means the Department of Taxation. See Nevada Revised Statutes 360.001
1. Tax-free interest;
2. The untaxed portion of a pension or annuity;
3. Railroad retirement benefits;
4. Veterans’ pensions and compensation;
5. Payments received pursuant to the federal Social Security Act, including supplemental security income, but excluding hospital and medical insurance benefits for the aged and disabled;
6. Public welfare payments, including allowances for shelter;
7. Unemployment insurance benefits;
8. Payments for lost time;
9. Payments received from disability insurance;
10. Disability payments received pursuant to workers’ compensation insurance;
11. Alimony;
12. Support payments;
13. Allowances received by dependents of servicemen and servicewomen;
14. The amount of recognized capital gains and losses excluded from adjusted gross income;
15. Life insurance proceeds in excess of $5,000;
16. Bequests and inheritances; and
17. Gifts of cash of more than $300 not between household members and such other kinds of cash received by a household as the Department specifies by regulation.