1. The tax imposed by NRS 375B.100 becomes a lien upon the generation-skipping transfer on the date of the transfer and remains as such until the tax, interest and penalties owed to the State are paid or the lien is otherwise discharged.
2. If a person who is liable for the generation-skipping transfer tax transfers property which was part of a generation-skipping transfer to a bona fide purchaser or holder of a security interest the lien imposed by subsection 1 attaches at the moment of the transfer to all of the property of the person liable for the tax including property he or she acquires after the transfer, except the property which is transferred to a bona fide purchaser or a holder of a security interest. The lien does not attach to the property transferred to a bona fide purchaser or a holder of a security interest but it attaches to the consideration received for the property by the person who is liable for the tax.
3. The tax owed to the State of Nevada is a lien upon all generation-skipping transfers made during the period for which the return is filed. If the lien is not extinguished or otherwise released or discharged, it expires 10 years after the date a determination of deficiency is issued if, within that period, no notice of the lien has been recorded or filed as provided in NRS 360.450. Except as otherwise provided in this section, the provisions of NRS 360.420 to 360.560, inclusive, apply to the lien.
(Added to NRS by 1989, 1498)
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 insurance products 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 access to legal services through a network of provider 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 provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider 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 insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
