Nevada Administrative Code
Chapter 365 - Taxes on Certain Fuels for Motor Vehicles and Aircraft
SECURITY FOR PAYMENT
Section 365.185 - Request for reduction in amount of security

Universal Citation: NV Admin Code 365.185

Current through September 16, 2024

1. A dealer or supplier who complies with the requirements set forth in subsection 2 may submit a written request to the Department for a reduction in the amount of security required pursuant to NRS 365.290 if the required amount would otherwise be more than $5,000. Upon receipt of such a request, the Department may reduce the required amount to an amount that is:

(a) Not less than twice the amount of the maximum monthly tax the dealer or supplier reported to the Department during the 2 years immediately preceding the date of the request for a reduction; or

(b) Equal to $5,000, whichever is greater.

2. A dealer or supplier who has filed tax returns pursuant to chapter 365 of NRS for at least 3 calendar years may submit a request pursuant to subsection 1 if, during the 3 years immediately preceding the date of the request, he or she:

(a) Filed in a timely manner the tax returns required pursuant to chapter 365 of NRS;

(b) Paid in a timely manner all taxes and assessments owed to the State of Nevada pursuant to chapter 365 of NRS; and

(c) Has been audited at least once by the Department during the 2 calendar years immediately preceding the date of the request.

Added to NAC by Dep't of Motor Veh. by R105-01, 12-17-2001, eff. 1-1-2002; A by R150-08, 12-17-2008

NRS 365.110, 365.290

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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