Nevada Revised Statutes 78.245 – Corporate stocks, bonds and securities not taxed when owned by nonresidents or foreign corporations; exceptions
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1. Except as otherwise provided in subsection 2, no stocks, bonds or other securities issued by any corporation organized under this chapter, nor the income or profits therefrom, nor the transfer thereof by assignment, descent, testamentary disposition or otherwise, shall be taxed by this State when such stocks, bonds or other securities shall be owned by nonresidents of this State or by foreign corporations.
Terms Used In Nevada Revised Statutes 78.245
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
2. The provisions of subsection 1 do not apply to the commerce tax imposed pursuant to chapter 363C of NRS or the tax imposed pursuant to chapter 363D of NRS.