Nevada Administrative Code
Chapter 366 - Tax on Special Fuel
SECURITY FOR PAYMENT
Section 366.030 - Request for reduction in amount required

Universal Citation: NV Admin Code 366.030

Current through December 31, 2024

1. A special fuel supplier or special fuel dealer 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 366.235 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 which is:

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

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

2. A special fuel supplier or special fuel dealer who has filed tax returns with the Department pursuant to chapter 366 of NRS for 3 or more calendar years may submit a request pursuant to subsection 1 if he or she:

(a) Has filed punctually the tax returns required by NRS 366.383 or 366.386 for the 3 preceding calendar years;

(b) Has paid punctually all taxes and assessments due the State of Nevada for the 3 preceding calendar years;

(c) Has not been deemed habitually delinquent within the 3 preceding calendar years; and

(d) Has been audited by the Department within the 2 preceding calendar years.

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; A by Dep't of Motor Veh. by R150-08, 12-17-2008

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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.