Nevada Administrative Code
Chapter 360 - Revenue and Taxation: Generally
OVERPAYMENTS, CREDITS AND REFUNDS
Sales and Use Taxes
Section 360.492 - Provision of credit or refund to customer; resale of returned property

Universal Citation: NV Admin Code 360.492

Current through September 16, 2024

1. The retailer shall keep adequate records that document any refund or credit made to a customer.

2. If a retailer credits or refunds to a customer the full sales price of returned goods:

(a) Before the retailer remits the tax to the Department, the amount of the sales price so credited or refunded must not be included in the gross receipts of the retailer in the return filed by the retailer for that period. A retailer shall file a return as required in NRS NRS 372.360 or 374.365, as appropriate, even if, as a result of providing a credit or refund to a customer, there is no tax due from the retailer.

(b) After the retailer has remitted the tax to the Department, the retailer may deduct the amount of the sales price so credited or refunded from gross receipts on the return filed by the retailer for the period in which the credit was given or refund was made if the tax rates in the two periods are the same. If the tax rates are not the same, the retailer must submit to the Department an amended return for the period in which the original sale was made. If a retailer has insufficient gross receipts during the period in which a credit or refund has been made to a customer to offset the credit or refund so made, the retailer may take that amount as a credit against gross receipts and report a negative amount. Unless the retailer has requested a refund, the Department shall issue a statement to the retailer allowing a credit that may be applied against future tax liability of the retailer. If the retailer requests a refund, the Department shall issue a refund to the retailer in an amount that is equal to the amount of the credit owed to the retailer at the time the request is made.

3. If a customer has erroneously paid sales tax to a retailer, the customer must first seek a credit or refund of the tax from the retailer. If the customer attempts, but is unable, to receive the credit or refund from the retailer, the customer may apply for the credit or refund directly from the Department. When applicable, the Department shall deduct from the credit or refund to be paid to the customer an amount equal to the amount deducted and withheld by the retailer for reimbursement pursuant to NRS NRS 372.370 or 374.375, as appropriate, for the cost of collecting the tax being credited or refunded.

4. When any returned tangible personal property is resold, the sale is subject to the tax pursuant to chapter 372 or 374 of NRS.

Added to NAC by Tax Comm'n by R032-03, eff. 10-30-2003

NRS 360.090, 372.725, 374.725

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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