Nevada Code § 361.140

Exemptions of certain charitable corporations
Open in Lexace · Ask the AI about this section
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.

‹ Prev All Nevada sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.