NRS 315.99856 - Notes, bonds and other obligations: Waiver of exemption of interest from federal income taxation; issuance of obligations not exempt from taxation.

NV Rev Stat § 315.99856 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

The State Authority may:

1. Waive, by such means as the State Authority deems appropriate, any exemption from federal income taxation of interest on the bonds, notes or other obligations of the State Authority provided by 26 U.S.C. §§ 141 to 149, inclusive, and related portions of the Internal Revenue Code or any succeeding code or other federal statute providing a similar exemption; or

2. Issue notes, bonds or other obligations, the interest on which is not exempt from federal income taxation or excluded from gross revenue for the purpose of federal income taxation, if necessary to carry out the purposes of NRS 315.961 to 315.99874, inclusive.

(Added to NRS by 2005, 216)

Previous Section

NRS 315.99854 - Notes, bonds and other obligations: Provision for or requirement of means of assuring repayment; payment of associated fees and costs.

Next Section

NRS 315.99858 - Notes, bonds and other obligations: Refunding obligations.

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.