1. All intangible personal property is exempt from taxation, including, without limitation:
(a) Shares of stock, bonds, mortgages, notes, bank deposits, virtual currencies, book accounts such as an acquisition adjustment and credits, and securities and choses in action of like character; and
(b) Goodwill, customer lists, contracts and contract rights, patents, trademarks, trade names, custom computer programs, copyrights, trade secrets, franchises and licenses.
2. The value of intangible personal property must not enhance or be reflected in the value of real property or tangible personal property.
3. The attributes of real property, such as zoning, location, water rights, view and geographic features, are not intangible personal property and must be considered in valuing the real property, if appropriate.
4. As used in this section:
(a) "Public blockchain" means an electronic record of transactions or other data which:
(1) Is uniformly ordered;
(2) Is processed using a decentralized method by which two or more unaffiliated computers or machines verify the recorded transactions or other data;
(3) Is redundantly maintained by two or more unaffiliated computers or machines to guarantee the consistency or nonrepudiation of the recorded transactions or other data;
(4) Is validated by the use of cryptography; and
(5) Does not restrict the ability of any computer or machine to:
(I) View the network on which the record is maintained; or
(II) Maintain or validate the state of the public blockchain.
(b) "State of the public blockchain" means the cumulative record of data on a public blockchain, consisting of the first block of the public blockchain, all finalized transactions on the public blockchain and all block rewards recorded on the public blockchain.
(c) "Unaffiliated computers or machines" means computers or machines that are not under common ownership or control.
(d) "Virtual currency" means a digital representation of value that:
(1) Is created, issued and maintained on a public blockchain;
(2) Is not attached to any tangible asset or fiat currency;
(3) Is accepted as a means of payment; and
(4) May only be transferred, stored or traded electronically.
(Added to NRS by 1999, 3273; A 2005, 2654; 2019, 2827)