Nevada Administrative Code
Chapter 366 - Tax on Special Fuel
SECURITY FOR PAYMENT
Section 366.050 - Amount required after notification of cancellation of surety bond

Universal Citation: NV Admin Code 366.050

Current through September 16, 2024

1. If the Department is notified that a surety bond of a special fuel supplier or special fuel dealer has been or may be cancelled, the Department will review the monthly tax returns of that special fuel supplier or special fuel dealer:

(a) For the 24 months immediately preceding the review; or

(b) If the special fuel supplier or special fuel dealer has been in business less than 24 months, for the period he or she has operated his or her business, to determine the amount of security he or she will be required to provide.

2. Within 15 days after the Department receives notice that the bond has been or may be cancelled, the Department will notify the special fuel supplier or special fuel dealer of the amount of security required to retain his or her license. If the special fuel supplier or special fuel dealer does not provide the security required by the Department within 15 days after receiving notice of the amount of security required, the Department will revoke the license of the special fuel supplier or special fuel dealer.

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, 366.350

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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