Existing law provides for the imposition of taxes on transfers of real property. (NRS 375.020, 375.023, 375.026) Existing law also provides that certain transfers are exempt from such taxes, including, without limitation, transfers between certain affiliated business entities. (NRS 375.090) This bill provides that this exemption does not apply if a transfer of real property is made to a business entity formed for the purpose of evading the tax on transfers of real property.

Statutes affected:
As Introduced: 375.090
As Enrolled: 375.090