Nevada Administrative Code

NAC 360.894 Application of transferable tax credits to amount of taxes due: Offset; information on quarterly tax return; limitation. (NRS 360.090, 360.867) 1. A holder of transferable tax credits who is applying such credits to an amount of taxes due pursuant to chapter 363A, 363…

NAC 360.896 Notice to Department of used transferable tax credits and false statement or representation made by project sponsor in application or of failure to comply with certain requirements; issuance of notice of liability; notice to Department of fraudulent information submit…

NAC 360A.010 “Good cause” defined. (NRS 360A.020) As used in this chapter, unless the context otherwise requires, “good cause” means a circumstance that is beyond the control of a taxpayer and occurs despite the exercise of ordinary care and without willful neglect. The term incl…

NAC 360A.150 Submission of method of payment dishonored as result of error or fault of financial institution. (NRS 360A.020) 1. If a check or other method of payment submitted to the Department for payment of any tax or fee required by chapter 365, 366 or 373 of NRS or NRS 590.12…

NAC 360A.160 Waiver or reduction of interest or penalty. (NRS 360A.020, 360A.070) 1. A taxpayer who wishes to obtain relief from all or part of any interest or penalty, or both, must file an application with the Department. The application must: (a) Comply with the provisions of …

NAC 360A.170 Agreement for payment in installments: Prerequisites; compliance with previous agreement. (NRS 360A.020, 360A.080) 1. A taxpayer who wishes to enter into an agreement with the Department to pay a tax, fee, interest or penalty in installments pursuant to NRS 360A.080 …

NAC 360A.180 Agreement for payment in installments: Duties of taxpayer before execution by Department. (NRS 360A.020, 360A.080) 1. If the Department offers to enter into an agreement with a taxpayer to pay a tax, fee, interest or penalty in installments pursuant to NRS 360A.080, …

NAC 360A.190 Offsetting of overpayments: “Careless reporting” interpreted. (NRS 360A.020, 360A.110) 1. As used in NRS 360A.110, the term “careless reporting” includes, without limitation: (a) Any alteration of the dates of fueling, types of fuel or amounts of fuel on a tax return…

NAC 360A.200 Petition for redetermination: General requirements; request for oral hearing; withdrawal. (NRS 360A.020, 360A.160, 360A.170, 360A.180) 1. Except as otherwise provided in NAC 360A.210, a taxpayer who receives notice of a deficiency determination pursuant to NRS 360A.1…

NAC 360A.210 Petition for redetermination: Request for extension of time to file. (NRS 360A.020, 360A.160) 1. A taxpayer who receives notice of a deficiency determination pursuant to NRS 360A.140 and wishes to obtain a redetermination, but is unable to file a petition for a redet…

NAC 360A.220 Appeal of decision of Department: “Aggrieved by a decision of the Department” interpreted. (NRS 360A.020, 360A.180) As used in NRS 360A.180, the Department will interpret the term “aggrieved by a decision of the Department” to mean affected by any decision of the Dep…

NAC 360A.250 “Days” interpreted. (NRS 360A.020, 360A.240, 360A.250) The Department interprets the term “days” as used in NRS 360A.240 and 360A.250 to mean business days. (Added to NAC by Dep’t of Motor Veh. by R101-05, eff. 10-31-2005)

NAC 360A.260 Petition for reconsideration: Amount and form of security. (NRS 360A.020, 360A.250) 1. A taxpayer who is required to deposit security with the Department to petition for a reconsideration pursuant to NRS 360A.230, 360A.240 and 360A.250 must deposit an amount equal to…

NAC 360A.300 Written notice of intention to lock and seal place of business. (NRS 360A.020, 360A.365) If the Department intends to lock and seal the place of business of a person for violating any provision of NRS 360A.365, the Department will provide the person with written noti…

NAC 361.004 Definitions. (NRS 361.0775) Except as otherwise provided in NAC 361.617 to 361.620, inclusive, as used in this chapter, unless the context otherwise requires: 1. “Commission” means the Nevada Tax Commission. 2. “Department” means the Department of Taxation. 3. “Execut…

NAC 361.010 Definitions. (NRS 360.090, 360.250) As used in NAC 361.010 to 361.61049, inclusive, unless the context otherwise requires, the words and terms defined in NAC 361.012, 361.016 and 361.018, inclusive, have the meanings ascribed to them in those sections. (Added to NAC b…

NAC 361.012 “Actual age” defined. (NRS 360.090, 360.250) “Actual age” means the total number of years from the year of the construction of an improvement to the year of the lien date for the taxes which it affects. (Added to NAC by Tax Comm’n by R031-03, eff. 8-4-2004)

NAC 361.016 “Depreciation” defined. (NRS 360.090, 360.250) “Depreciation” means, except as otherwise provided in NAC 361.266, a loss in the value of improvements or personal property from any cause. (Added to NAC by Tax Comm’n by R031-03, eff. 8-4-2004; A by R039-10, 8-13-2010, e…

NAC 361.018 “Improvement” defined. (NRS 360.090, 360.250) “Improvement” means, except as otherwise provided in NAC 361.1133, all appurtenances erected upon or affixed to the land, including, without limitation, those improvements listed in paragraphs (a) and (b) of subsection 1 o…

NAC 361.030 “Fine art for public display” defined. (NRS 360.090, 361.068, 361.186) As used in NAC 361.030 to 361.044, inclusive, unless the context otherwise requires, “fine art for public display” has the meaning ascribed to it in paragraph (b) of subsection 4 of NRS 361.068. (A…

NAC 361.032 Interpretation of terms used in NRS 361.186. (NRS 360.090, 361.068, 361.186) For the purposes of NRS 361.186, the Department shall interpret: 1. “Direct costs of owning and exhibiting the fine art” to: (a) Except as otherwise provided in paragraph (a) of subsection 5 …

NAC 361.034 Calculation of interest payments on art indebtedness. (NRS 360.090, 361.068, 361.186) 1. For a work of fine art that was acquired with a portion of the proceeds of a secured or unsecured indebtedness, the amount of the interest on the total indebtedness that the taxpa…

NAC 361.036 Apportionment of direct costs when works of art consist of more than fine art. (NRS 360.090, 361.068, 361.186) If an exhibition does not consist solely of fine art for public display owned by the taxpayer, the Department will apportion the direct costs of owning and e…

NAC 361.038 Requirements to receive credit for donations to certain museums. (NRS 360.090, 361.068, 361.186) For a taxpayer to receive a credit for a donation to a museum that provides exhibits specifically related to nature or a museum that provides exhibits specifically related…

NAC 361.040 Affidavit for claiming exemption: Form; contents. (NRS 360.090, 361.068, 361.186) The affidavit that a taxpayer who is claiming an exemption pursuant to paragraph (j) of subsection 1 of NRS 361.068 must file pursuant to paragraph (a) of subsection 3 of NRS 361.068 wit…

NAC 361.044 Provision of poster to school or parent of child who receives in-home instruction. (NRS 360.090, 361.068, 361.186) Upon receiving a request for a poster pursuant to paragraph (b) of subsection 3 of NRS 361.068, the taxpayer shall select which poster to provide to the …

NAC 361.046 Examples of facilities, devices to which exemption does not apply. (NRS 360.090, 361.077) Examples of facilities and devices to which the exemption from taxation provided by NRS 361.077 does not apply are: 1. A mining operation or the generating facility of an electri…

NAC 361.048 Application of exemption to additions, modifications of operational devices. (NRS 360.090, 361.077) If an addition is made to or a modification is made in a device whose primary purpose is operational, but the addition or modification is a “facility, device or method …

NAC 361.050 Affidavits, reports, records required to claim exemption. (NRS 360.090, 361.077) 1. An affidavit on a form approved by the Department for claiming an exemption pursuant to NRS 361.077 must be supplied annually to the county assessor of the county in which the property…

NAC 361.052 Determination of value added by qualified system. (NRS 360.090, 360.250, 361.079) 1. For the purpose of NRS 361.079, a county assessor may consider value added by a qualified system as the difference between the cost of the building with the qualified system and the c…

NAC 361.054 Form for requesting valuation. (NRS 360.090, 360.250, 361.079) A county assessor may provide an appropriate form for the owner of a building to request the valuation of a qualified system. If an owner does not complete such a form, the owner may not be precluded from …

NAC 361.056 Documentation to determine conformity to standards. (NRS 360.090, 360.250, 361.079) A county assessor, a county board of equalization or the State Board of Equalization may require documentation from the owner of a building who has requested the valuation of a qualifi…

NAC 361.058 List of buildings with qualified systems. (NRS 360.090, 361.079) On or before April 1 of each year, each county assessor shall submit to the Department for the preceding year a written list of the buildings in his or her county which have qualified systems. (Added to …

NAC 361.065 Tangible personal property purchased by and consumed during operation of business. (NRS 360.090, 361.068) 1. All tangible personal property which is purchased by a business and which is claimed to be exempt pursuant to paragraph (d) of subsection 1 of NRS 361.068 must…

NAC 361.070 Certain property leased or rented to Nevada System of Higher Education. (NRS 360.090, 361.099) 1. Application for an exemption pursuant to NRS 361.099 must be made to the county assessor by June 15 of each year. 2. The application must include a copy of the rental agr…

NAC 361.080 Privately owned park: “Park” interpreted; requirement for exemption. (NRS 360.090, 361.0605) 1. As used in NRS 361.0605, the Department shall interpret “park” to mean a detached tract of privately owned real property that is set apart and maintained for public use, ge…

NAC 361.085 “Portable goods and storage sheds and other household equipment” interpreted. (NRS 360.090, 361.069) As used in subparagraph (8) of paragraph (a) of subsection 4 of NRS 361.069, the Department shall interpret “portable goods and storage sheds and other household equip…

NAC 361.089 Portions of qualified low-income housing projects. (NRS 360.090, 361.082) 1. An owner of property who wishes to qualify the property for exempt status pursuant to NRS 361.082 must apply to the county assessor for the exemption not later than June 15 of each year. The …

NAC 361.106 Definitions. (NRS 360.090, 360.250) As used in NAC 361.106 to 361.1315, inclusive, unless the context otherwise requires, the words and terms defined in NAC 361.107 to 361.1176, inclusive, have the meanings ascribed to them in those sections. (Supplied in codification…

NAC 361.107 “Abstraction method” defined. (NRS 360.090, 360.250) “Abstraction method” means a method of estimating the value of land by subtracting from the sales prices of improved parcels the full contributory value of all items attributable to the value of the improvements, th…

NAC 361.1073 “Accrued depreciation” defined. (NRS 360.090, 360.250) “Accrued depreciation” means the amount of loss in the value of an improvement relative to its replacement cost, reproduction cost or original cost as a result of physical deterioration, functional obsolescence o…

NAC 361.1075 “Adjustment” defined. (NRS 360.090, 360.250) “Adjustment” means a modification of the reported value of a variable, such as sale price or gross income, using a model calibration technique for the purpose of estimating the full cash value of property. (Added to NAC by…

NAC 361.109 “Allocation method” defined. (NRS 360.090, 360.250) “Allocation method” means a method used to value land, in the absence of a sufficient number of sales of vacant land, by estimating a typical ratio of land to total value and applying that ratio to comparable improve…

NAC 361.1095 “Base lot method” defined. (NRS 360.090, 360.250) “Base lot method” means a method of appraising land pursuant to which: 1. The parcel or other area of land being appraised is compared to a base lot consisting of a parcel or hypothetical area of land having common or…

NAC 361.111 “Capitalization of ground rents” defined. (NRS 360.090, 360.250) “Capitalization of ground rents” means the estimation of the value of land in the absence of comparable sales by capitalizing the revenue from market-rate leases of land. (Added to NAC by Tax Comm’n by R…

NAC 361.1113 “Comparative unit method” defined. (NRS 360.090, 360.250) “Comparative unit method” means a method of appraising land pursuant to which an average or typical value is estimated for each stratum of land, using square feet, front feet, acres, buildable units or other s…

NAC 361.1115 “Cost of development method” defined. (NRS 360.090, 360.250) “Cost of development method” means a method used to estimate the value of undeveloped land in which direct and indirect costs and entrepreneurial profit are deducted from an estimate of the probable proceed…