{"data":{"id":"us-nv/nrs-363a.137","jurisdiction":"us-nv","citation":"NRS 363A.137","heading":"Payroll tax: Credit for matching employee contributions to prepaid tuition contracts and college savings trust accounts.","body":"1. An employer is entitled to a credit against the excise tax imposed on the employer pursuant to NRS 363A.130 if:\n(a) The employer makes a contribution to the Nevada Higher Education Prepaid Trust Fund created by NRS 353B.140 on behalf of a qualified beneficiary on whose behalf a prepaid tuition contract is drawn pursuant to NRS 353B.100 and the contribution matches a contribution made on behalf of the qualified beneficiary by an employee of the employer; or\n(b) The employer makes a contribution to a savings trust account in the Nevada College Savings Trust Fund created by NRS 353B.340 and the contribution matches a contribution made to the savings trust account by an employee of the employer.\n2. A credit described in subsection 1 must be in an amount equal to 25 percent of the matching contribution but may not exceed $500 per contributing employee per year.\n3. A credit described in subsection 1 may not be applied retroactively. If the amount of a credit exceeds the tax liability of an employer for a year, the excess may be applied to the tax liability of the employer for 5 years after the year in which the matching contribution was made. A credit applied pursuant to this subsection must be applied during the earliest year for which the employer has a tax liability. If credits for more than 1 year are available to an employer pursuant to this subsection, the credit from the earliest year must be applied first.\n4. An employer claiming a credit pursuant to this section shall maintain any record required by the Department regarding the matching contribution for which the credit is claimed.\n5. A contribution made by an employer as described in subsection 1 is the property of the employee whose contribution is being matched and may not be claimed in any manner by the employer.\n6. As used in this section:\n(a) “Prepaid tuition contract” has the meaning ascribed to it in NRS 353B.030.\n(b) “Qualified beneficiary” has the meaning ascribed to it in NRS 353B.050.","path":["TITLE 32 — REVENUE AND TAXATION","CHAPTER 363A - BUSINESS TAX: FINANCIAL INSTITUTIONS AND MINING","IMPOSITION AND COLLECTION"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-363A.html#NRS363ASec137","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:37Z","sha256":"eb49fbb49845049411f6670cca3492364b5e099e8d0325c905b76fdbdc9a125f","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-363a.135","next":"us-nv/nrs-363a.139"},"notice":"GroundRules: Original legal text. Not legal advice."}