Nevada Corporate Donations
MODIFIED BUSINESS TAX
Nevada Educational Choice Scholarship Program A taxpayer who is required to pay a Modified Business Tax (MBT) per NRS 363A or NRS 363B may receive a credit against the MBT tax due for any donation of money made by the taxpayer to a scholarship organization.
The taxpayer must:
- Notify the scholarship organization of the intent to donate and seek a credit per provisions of NRS 385.
- The scholarship organization must apply to the Department of Taxation for approval prior to accepting the contribution.
- The Department of Taxation, if approving the request, will notify the scholarship organization of the approved amount.
- Upon approval, the scholarship organization shall notify the taxpayer who must, not later than 30 days after receiving the notice, donate the money to the scholarship organization.
- Failure to meet the deadlines described above shall result in a forfeit of any claim to the credit by the taxpayer. (AB165, 2015 Legislative Session, effective 4/13/2015)
Corporate Application for Approval of Tax Credit
Instructions: Complete the form below and return it to ASK. Ask will submit it to the NV Dept. of Taxation for approval. The Dept. of Taxation will notify ASK with the approval Decision within 20 days. Once notified, you will have 30 days to Remit the funds to ASK.
Attention: Failure to complete the form will result in a delay In the processing of the request, resulting in an extension of the 20 day approval period and possibly being moved down in the line for credit requests.