Nevada Administrative Code
Chapter 366 - Tax on Special Fuel
SECURITY FOR PAYMENT
Section 366.010 - Amount required for initial 2 years of operation

Universal Citation: NV Admin Code 366.010

Current through December 12, 2024

1. Except as otherwise provided in NAC 366.030 and 366.040, the Department will fix the amount of security required pursuant to NRS 366.235 for an applicant for, or the holder of:

(a) A special fuel supplier's license at three times the estimated maximum monthly tax, but not less than $1,000.

(b) A special fuel dealer's license at three times the estimated maximum monthly tax, but not less than $100.

2. During the initial 2 years that a special fuel supplier or special fuel dealer operates his or her business, the Department will review his or her monthly tax returns filed pursuant to NRS 366.383 or 366.386 every 6 months to determine whether the estimated maximum monthly tax is accurate. If the Department determines that the estimated maximum monthly tax is not accurate, the Department will revise the amount of security required in accordance with its review. If the Department increases the amount of security required, the special fuel supplier or special fuel dealer shall increase his or her security as required by the Department within 60 days after notification of the increase.

Added to NAC by Dep't of Motor Veh. & Pub. Safety, 12-15-94, eff. 7-1-95; A 3-28-96; R096-00, 3-1-2001

NRS 366.110, 366.235

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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