NV AB457

Requires the Joint Interim Standing Committee on Revenue to study during the 2025-2026 interim whether to treat certain real property rental businesses as a single entity for commerce tax purposes, including entities with more than 50% common ownership and LLCs with series structures.

Mandates the Committee to evaluate the advisability and feasibility of imposing a new tax on the sale or transfer of a controlling interest in entities that own real property in Nevada.

Study must include estimated revenue impacts to state revenue for the commerce tax consolidation proposal and impacts to both state and local revenue for the controlling interest transfer tax.

Committee must examine how a controlling interest transfer tax should be administered, including reporting requirements and tax remittance procedures.

Report with findings and legislative recommendations due to the Director of the Legislative Counsel Bureau by January 1, 2027, for transmittal to the 84th Session of the Nevada Legislature.