NAC361.958. Recommended consultation with tax professional concerning income tax liability and deductions relating to Account.

The State Treasurer recommends that an allodial titleholder consult with a tax professional concerning:

     1. The income tax liability of the titleholder with regard to the income and interest earned on the money in the Allodial Title Trust Account attributable to the money paid into the Allodial Title Trust Account by the titleholder; and

     2. Whether and to what extent the property taxes paid by the State Treasurer from the Allodial Title Trust Account with respect to the property of the titleholder are deductible by the titleholder.

     (Added to NAC by St. Treasurer by R088-01, eff. 10-22-2001)